According to CryptoSlate data, Bitcoin was trading at $111,238 as of press time, up 2.4% over the past day.
He added in a note:
“Spot-ETF inflows and the sovereign-hedge narrative mean any policy-driven dollar move can feed back into crypto rates positively.”
Kooner also said that Bitcoin may “dip initially alongside equities,” yet the presence of regulated funds positions the asset for “greater upside when bullish catalysts align.”
Farside Investors recorded $75.3 million of net inflows into US spot Bitcoin ETFs on July 8, lifting cumulative inflows to $49.9 billion since January.
The products have absorbed an average $134 million per trading day this quarter, reinforcing what Kooner called a “structural ETF support” floor.
The US Dollar Index has fallen more than 14% year-to-date, giving what Kooner described as “some overdue relief” that can amplify crypto moves when capital seeks non-sovereign stores of value.
Market desks now watch July’s consumer price print and a Senate vote on the GENIUS Act for confirmation that liquidity conditions will stay benign.
Kooner flags $105,000–$108,000 as the nearest “refresh” support zone should a macro shock emerge, while a clean close above $112,000 on the daily chart “confirms the up-trend on lower timeframes.”
Options positioning echoes that view. Chicago Mercantile Exchange data indicate that open interest is skewed toward the $115,000 and $120,000 July calls, while put activity clusters at $100,000.
Traders attribute the bullish skew to advisers hedging against potential downside for ETF inflow scenarios that accelerate whenever macroeconomic news weakens the dollar.
