Spot Bitcoin ETFs just snapped a 10-day outflow streak with $221.7 million in net inflows on Thursday. That was the biggest one-day intake since early May, and it came as Bitcoin reclaimed the $61,000 area. The question now is whether this was the start of a real demand turn or just a one-day break in the slide.
Market regime data flags stress as high. Breadth is narrow with most coins positive, but dispersion is scattered. Funding is positive at nearly 6% annualized. Liquidations hit almost $14,500 in the last hour, but overall volatility remains low.
What makes Thursday more than a headline is the timing: buyers stepped in while market stress is still running high. So the confirmation from here is straightforward. If ETF inflows continue over the next few sessions and Bitcoin holds above $61,000, that starts to look like real demand absorbing a fragile backdrop. If flows flip back to outflows or Bitcoin loses that level, then Thursday reads less like a turn and more like a brief interruption in the slide.