Bitcoin ETFs record five consecutive days of massive net inflows, signaling a return of institutional capital. U.S. spot Bitcoin ETFs are experiencing a new wave of capital inflows. Between July 14 and July 20, Bitcoin ETFs posted net inflows for five consecutive trading days, with net inflows reaching $226.8 million on July 20 alone—among the strongest single-day inflows since July. Bitcoin has briefly broken above the $66,000 mark. This could be a significant signal of a prolonged bear market bottoming out. The most important aspect of this capital return is its continuity, rather than the size of any single day’s inflow. Data shows that after a net inflow of $181.1 million on July 14, Bitcoin ETFs maintained positive inflows over multiple consecutive trading days, with BlackRock’s IBIT remaining one of the primary sources of capital. This steady, incremental price appreciation has begun to noticeably restore market sentiment. Currently, long positions slightly dominate the BTC futures market, with the overall BTC long/short ratio holding around 1.08—approximately 52% long and 48% short. Compared to the high-leverage conditions seen during the prior decline, the market’s capital structure remains relatively healthy.