Bitcoin traded near $64,000 on July 31 after U.S. spot Bitcoin exchange-traded funds recorded their strongest daily inflows in over three weeks. The price remained trapped below a key resistance level as traders balanced persistent institutional demand against tighter Federal Reserve signals.

According to CoinGecko data, Bitcoin changed hands near $64,000 on July 31, with a market capitalization of approximately $1.28 trillion. The cryptocurrency traded within a daily range of $63,886 to $65,305. Weekly performance stayed negative, and daily trading volume stood near $26.6 billion.

ETF Inflows Reach Three-Week High

SoSoValue data showed that U.S. spot Bitcoin funds attracted $233.1 million in net inflows on Thursday, July 30, marking their strongest single-day intake in more than three weeks. BlackRock's iShares Bitcoin Trust (IBIT) led the inflows with $183.4 million, accounting for nearly four-fifths of the total. Bitwise's Bitcoin ETF added $20.7 million, and Fidelity's fund received $15.5 million.

Those purchases lifted weekly net inflows to $203.84 million heading into Friday's session. The monthly picture also brightened following two challenging months for fund demand. July net inflows reached $437.8 million after Thursday's activity. Friday's result would determine whether the products secure a fourth consecutive positive week. The U.S. spot Bitcoin ETF suite launched in January 2024 and has accumulated tens of billions in assets under management since, with IBIT consistently ranking as the largest fund by AUM.

Resistance at $65,700 Holds Firm

Crypto trader That Martini Guy noted that Bitcoin faced two rejections from the same resistance zone. He identified $65,700 as the critical level that buyers needed to convert into support. His chart analysis placed the next upside target around $67,200 following a confirmed breakout.

However, repeated failures below resistance indicated that buyers had not yet regained control of the market. CoinGecko's seven-day data reinforced that assessment: Bitcoin peaked near $65,745 during the period but could not sustain that level. The lower boundary held near $62,785, keeping the asset within a compressed trading range.

That Martini Guy identified $64,000 as the nearest support level. A sustained hold there could preserve the range and allow another test of resistance. A breakdown, however, would shift focus toward the stronger demand zone between $62,000 and $63,000.

Hawkish Federal Reserve Vote Adds Pressure

The Federal Open Market Committee voted on July 29 to maintain the federal funds rate target range at 3.5% to 3.75%. Federal Reserve records revealed an unusual 9-3 vote split. Beth Hammack, Neel Kashkari, and Lorie Logan dissented, each preferring a quarter-point rate increase. The result created a more hawkish configuration than markets had anticipated. A triple dissent at a single FOMC meeting is rare and underscored internal disagreement over the persistence of inflationary pressures.

The Federal Reserve stated that inflation remained above its 2% target. Officials pointed to energy-linked supply shocks and uncertainty tied partly to conflict in the Middle East. The policy statement also characterized economic activity as expanding at a solid pace. Higher-for-longer interest rates have historically created headwinds for risk assets, including cryptocurrencies, by raising the opportunity cost of holding non-yielding assets.

XWIN Research Japan reported that Bitcoin entered the meeting without strong directional positioning. The firm's analysis placed the taker buy-sell ratio near 1.0, indicating balanced aggressive trading. XWIN also noted a mild short bias in perpetual futures markets.

Sellers repeatedly failed to push Bitcoin below the $62,000 to $63,000 support band. Positive funding rates signaled continued demand for leveraged long positions, though that configuration left crowded traders vulnerable to forced liquidations during sharp declines.

XWIN further reported that exchange inflows remained low before the Fed decision, offering little evidence that holders were preparing broad spot-market sell-offs. Post-meeting volatility therefore appeared to reflect repricing rather than heavily bearish positioning.

ETF Flows Support Range Without Triggering Breakout

Institutional fund demand continued across several crypto products, though flows remained uneven. In a separate daily update, That Martini Guy cited $49.74 million in Bitcoin ETF inflows. The same update recorded Ether fund outflows of $2.95 million. Solana products gained approximately $404,000, while XRP funds received $5.98 million.

Those figures indicated that capital favored Bitcoin and XRP during that session. Nevertheless, ETF inflows did not propel Bitcoin above established resistance. The divergence suggested that institutional purchases were supporting the trading range without generating enough immediate spot-market demand to trigger a breakout.

The Federal Reserve is scheduled to release minutes from its July meeting on August 19. In the interim, traders are expected to monitor $64,000 as support and $65,700 as resistance. A confirmed close outside either level would provide the next verifiable directional signal.