Bitcoin bulls eye $65,000 support as ETF inflows jump $257.7M and hedging costs surge

Over the past three weeks, Bitcoin has retreated from $70,524 to around $64,074, while the last 24 hours saw price oscillate between roughly $62,800 and $66,200 and then reclaim the $65,000 area. At the same time, U.S. spot Bitcoin ETFs recorded a $257.7 million net inflow on Tuesday, sharply above their long‑run daily average, even as Deribit’s 7‑day put‑call skew slid from -6% to -17% as traders aggressively bid for downside protection. If bulls can hold $65,000 and keep ETF flows positive, the market may be attempting to build a local bottom, though elevated hedging and tariff‑driven macro uncertainty still threaten a slide toward lower support levels near $61,000 and $56,048.