Bitcoin climbed to a two-week high near $65,500 on Tuesday, fueled by a recovery in Asian chip stocks and renewed demand for U.S. spot Bitcoin ETFs. The cryptocurrency rose about 1% during the session and 5% over the past seven days, with daily trading volume approaching $33 billion as risk appetite improved across global markets.
Asian Markets Lead the Recovery
The MSCI Asia-Pacific gauge gained approximately 2%, snapping a three-session losing streak. Semiconductor shares led the rebound after a broad technology selloff. South Korea’s Kospi surged more than 3%, with Samsung Electronics and SK Hynix advancing. Taiwan’s Taiex climbed over 4% as Taiwan Semiconductor Manufacturing Company (TSMC) recovered. Japan’s Nikkei 225 also rose more than 3%, with chip-related companies like Kioxia, Advantest, and SoftBank among the strongest performers. The recovery followed concerns about high valuations in artificial intelligence and a pullback in global tech stocks.
Major Cryptocurrencies Follow Bitcoin Higher
At the time of writing, Bitcoin traded near $65,245, gaining 1.23% in 24 hours and 5.02% over the week, with daily volume around $32.18 billion. Other major cryptocurrencies also advanced: Ethereum hovered near $1,901, XRP stood at about $1.11, Solana traded near $77.73, BNB around $571, and Hyperliquid near $62.49. Dogecoin traded near $0.073 as the broader market recovered.
ETF Inflows Add Momentum
U.S. spot Bitcoin ETFs recorded $226.9 million in net inflows on Monday, marking the fifth consecutive session of positive flows and bringing total inflows to approximately $727.3 million over that period. This renewed buying comes after a difficult stretch in which more than $4 billion exited the funds during June, and a 13-session outflow streak removed about $4.37 billion between May and early June. During those outflows, large Bitcoin wallets accumulated roughly 270,000 BTC (valued at about $16.7 billion), providing additional demand support. The combination of ETF inflows and whale accumulation has reinforced Bitcoin’s recovery from the June low near $58,000–$60,000.
Oil Prices and Geopolitics Support Risk Sentiment
Oil prices also supported risk appetite. Brent crude fell about 1% toward $88 after reports of a proposed 10-day ceasefire between the United States and Iran. Although fighting remained active with no confirmed agreement, lower oil prices eased some market pressure that had weighed on sentiment over the previous two sessions.
Outlook
Bitcoin’s rise near $65,500 follows stronger chip stocks, lower oil prices, and renewed spot Bitcoin ETF inflows. Large wallet accumulation also supported demand after months of withdrawals. Investors should monitor ETF activity and broader risk markets for signs that the recovery can continue.
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