Bitcoin Holds Near $64K as ETFs Draw $85.85M, SpaceX Lists 18,712 BTC

Bitcoin News US spot Bitcoin exchange-traded funds pulled in $85.85 million on June 12, the strongest single-day demand in roughly four weeks and the first net inflow after a five-session bleed that drained about $727 million. The figure marks the largest daily haul since May 14, when the products absorbed $131.31 million. Cumulative net inflows now stand near $53.62 billion, with total net assets around $79.65 billion. The reversal snapped a brutal stretch: the funds had recorded 13 consecutive outflow sessions between May 15 and June 3, their longest withdrawal streak since launching in early 2024, as Middle East tensions dragged Bitcoin toward $59,000. The same session delivered the largest Bitcoin position ever attached to a public listing. SpaceX's record Nasdaq debut revealed, via its S-1 filing, a holding of 18,712 BTC, acquired for roughly $661 million and valued near $1.29 billion at the end of March. Unlike dedicated accumulation vehicles, the rocket and satellite maker treats the stake as a strategic reserve for excess cash, a rounding error against a valuation above $1.8 trillion, yet large enough to normalize the asset on corporate balance sheets. On-chain analysts had long estimated the company held about 8,300 coins; the filing showed the real figure was more than double. Michael Saylor used the BTC Prague stage to defend Strategy's first disclosed Bitcoin sale since 2022, after a June 1 filing revealed the firm offloaded 32 BTC. The move appeared to clash with his long-running never-sell mantra, but Saylor argued treasury companies must retain the ability to sell to support Bitcoin-backed credit products. He framed instruments like Strategy's STRC preferred stock as digital credit, describing the market as a trillion-dollar opportunity capable of yielding up to 8%, three to four times a traditional savings account. The stance was tested this month when a dividend-backed synthetic stablecoin briefly depegged to $0.90 as STRC slipped below its $100 par value. A closely watched bank declared the cycle low likely in, arguing Bitcoin's slide to roughly $59,000, a 53% drawdown from October's $126,000 record high, marked the bottom of the downturn. The note pinned much of the recent ETF bleed on investors liquidating crypto to fund SpaceX allocations, pressure expected to ease now that the IPO has priced. With its $75 billion offering live and shares opening about 20% above the $135 price, that specific selling could fade. The bank reaffirmed a $100,000 year-end target, betting that improving macro conditions and renewed institutional demand pull the market out of its bear market. Macro data complicated the recovery. May's Producer Price Index jumped 1.1% on the month, lifting the annual rate to 6.5%, the fastest pace since November 2022 and well above the 0.7% economists expected. Energy did most of the damage, with final-demand goods up 2.8% and gasoline surging 23.4% as the Iran conflict kept oil supply at risk. Even core PPI, stripping out food, energy and trade services, rose 0.8% on the month. Hotter wholesale inflation tends to reach households weeks ahead of consumer prices, and it trimmed expectations for Federal Reserve rate cuts, a headwind that has knocked Bitcoin lower after every hot print this year. A Coinbase-convened advisory council of leading cryptographers urged the network to begin planning for post-quantum signatures now, while stressing that quantum computers pose no immediate threat. Roughly 6.7 million BTC are considered vulnerable to a future attack, including about 1.7 million sitting in some 20,000 early pay-to-public-key addresses, many assumed lost or tied to Satoshi Nakamoto. The panel declined to take a side on the hardest question: whether to constrain coins that can never be migrated. One camp wants a hard deadline after which today's signature schemes stop being accepted; the other calls that confiscation, a debate touching the network's consensus rules and core property guarantees. COINOTAG's proprietary 42-indicator composite scoring engine rates overhead resistance at $64,809 at 77/100, driven by the confluence of a Fibonacci 0.236 retracement and the prior-day high, while the $62,899 support also scores 77/100 on a value-area POC and a bullish-engulfing print. Momentum stays soft: RSI near 35.2, a bearish MACD and a broader downtrend. Derivatives lean cautiously long, funding holds barely positive at 0.0010%, open interest sits at $11.9 billion and the long/short ratio reads 1.52, with 60.3% of accounts long. With the Fear and Greed Index at 13 (Extreme Fear) and dominance at 70.4%, reclaiming $64,809 opens the path toward $70,981; losing $62,899 invalidates the bounce and exposes $59,130.