Key facts
- Bitcoin traded near $63,900 on Thursday, July 30, 2026.
- Strong Microsoft earnings boosted U.S. stock futures, indicating AI spending is yielding growth.
- U.S.-listed spot Bitcoin ETFs experienced significant outflows, totaling hundreds of millions of dollars.
- Bitcoin ETFs lost approximately 3,170 BTC over the week, while Ethereum funds saw inflows.
- Bitcoin's derivatives market showed balanced but fragile positioning.
- Bitcoin fell below $64,000 on July 24, 2026, with broader crypto market pullbacks.
Bitcoin traded near $63,900 on Thursday, showing a slight decline as U.S. stock futures rose, buoyed by strong earnings from Microsoft. The tech giant's results reassured investors that significant spending on artificial intelligence is beginning to yield returns without a substantial increase in costs, a development that has closely influenced Bitcoin's price movements.
Microsoft's cloud unit experienced its fastest growth in four years, a stark contrast to Alphabet's recent increase in spending forecasts. This demonstrated AI capital expenditure converting into tangible growth, a narrative the market has been seeking. Bitcoin has largely mirrored this trend, moving in correlation with the chip and AI sectors rather than on crypto-specific factors.
However, the cryptocurrency market also faced headwinds. U.S.-listed spot Bitcoin ETFs saw substantial outflows, with cumulative withdrawals totaling hundreds of millions of dollars in late July, reaching a record monthly outflow of approximately $4.5 billion. This marked a reversal from earlier in the month when ETFs had recorded net inflows. In contrast, Ethereum funds attracted significant inflows, indicating a potential shift in institutional capital allocation.
The derivatives market for Bitcoin presented a balanced but fragile setup. Futures open interest remained stable, and perpetual funding rates were positive but not excessively high, suggesting leverage was present without reaching overheated levels. Liquidations over a 24-hour period totaled $39.03 million, with short liquidations exceeding long liquidations, indicating some upward price movement that forced bearish traders out of positions.
Earlier in the week, Bitcoin had fallen below $64,000 on July 24, with a broad pullback across the crypto market. Assets like Cardano, Sui, and NEAR led the declines, while Uniswap's UNI was a notable exception, posting a gain. The tech sector also experienced weakness, with chipmakers and data center stocks declining, contributing to the Nasdaq 100 hovering near an 11-week low. Digital asset-related stocks like Robinhood and Coinbase also saw losses, while stablecoin issuer Circle and tokenization specialist Securitize posted modest gains.