Bitcoin Climbs Past $115K as Bitwise Reports Inflows

Download IPFS

Bitcoin has regained ground in early Asian trading, rebounding above $115,000 following last week’s sharp drop that briefly took the cryptocurrency down to $113,000. The modest recovery comes alongside signs of stabilisation in institutional activity, with asset manager Bitwise recording $18.74 million in net inflows. This follows what was one of the largest single-day ETF outflow events on record last Friday.

That downturn was fuelled by a combination of weak US employment data and newly announced American tariffs, which triggered wider risk aversion across global markets. The impact was felt across digital assets and equities, with alternative cryptocurrencies bearing the heaviest losses. Solana (SOL) fell by nearly 20% over the week, while Ethereum (ETH) declined by close to 10%.

Despite this volatility, digital asset firm QCP Capital has taken a measured view. In a note published Monday, the company stated that Bitcoin’s overall technical structure remains intact, highlighting the cryptocurrency’s strongest monthly close to date in July. QCP interpreted the recent drop not as the beginning of a downward trend but as a typical “leverage flush,”  a market correction that clears out speculative positions and often precedes renewed interest from long-term investors.

However, the mood among traders remains cautious. On decentralised prediction platform Polymarket, users currently give a 49% chance that Bitcoin could fall below $100,000 before the end of 2025. That’s a slight increase from the day before, indicating persistent concerns despite longer-term optimism around developments such as greater regulatory clarity and the rising adoption of stablecoins.

Attention now turns to upcoming ETF flow reports during the Asian trading session. If inflows continue and market volatility eases, this could provide the confirmation needed for renewed buying interest. Many traders remain hesitant, wary of broader macroeconomic headwinds that have kept sentiment in check.

Ethereum (ETH) is trading around $3,700. Polymarket data indicates market participants are confident it will break above $4,000 during August.

Gold continues its upward momentum, marking a third consecutive session of gains. It hit a two-week high on Monday, boosted by expectations of a US Federal Reserve interest rate cut in September. Data from CME’s FedWatch tool suggests an 86% likelihood of that outcome.

Japan’s Nikkei 225 rose by 0.54% at Tuesday’s open, supported by US President Donald Trump’s announcement of increased tariffs on Indian exports, a move that appears to have

The S&P 500 ended its four-day losing streak with a 1.47% gain, closing at 6,329.94. This marked its strongest single-day performance since May.

Bitcoin’s return above $115,000 is a welcome signal for investors, but underlying uncertainty remains. For now, the market appears to be searching for direction, balancing optimism around institutional participation with caution over global economic pressures.