Bitcoin has recovered from $64,000, but analysts say broader capital inflows remain stagnant as trading activity has weakened.
Fresh money entering Bitcoin remains close to zero even as the largest crypto by market cap holds near $65,000.
Bitcoin briefly climbed to about $66,700 before falling toward $64,000 and recovering to roughly $65,100. Yet, Glassnode, a blockchain analytics firm, pointed out in a recent market overview that “broader capital inflows are stagnant,” leaving the market stuck in consolidation. The analysts wrote:
“Active addresses remain steady, but economic settlement and transaction pressure remain restrained. Broader capital inflows are stagnant, while long-term holders continue to demonstrate conviction, preserving a resilient underlying holder base.”
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The firm measures fresh capital by tracking changes in Bitcoin’s realized value, which records each BTC▲$62,630.00 at the price at which it last changed hands.
- When the figure rises, buyers are adding new dollar value to the network.
- When it sits near zero, existing capital is mostly moving between traders without much additional money entering.
That measure had already fallen 57% to almost zero in early June. The latest report suggests it has yet to recover.
Buyers Remain Sidelined
That is far less new money than Bitcoin attracted during earlier rallies. Glassnode said monthly inflows often climbed from about $2 billion to more than $10 billion during the 2023-2025 bull market, while May’s rebound reached only $2.8 billion before fading again.
Additionally, institutional demand has softened as spot Bitcoin ETFs lost about $465 million over July 23 and July 24, although small earlier inflows kept the full week positive by about $34 million.
The lack of new capital doesn’t necessarily point to an immediate selloff but without a stronger return of buyers, Bitcoin may struggle to break decisively beyond its current range, the analysts emphasized.
Read more: Bitcoin’s Jump to $65K Hasn’t Ended the Bear Market: Glassnode
