Bitcoin ETFs Pulled In Near $1 Billion Last Week, So Why Is BTC Stuck Below $80,000?
US spot Bitcoin (BTC) exchange-traded funds (ETFs) recorded $924 million in web inflows from Aug. 24 to Aug. 28. BlackRock’s iShares Bitcoin Trust (IBIT) led with $938 million, in line with SoSoWorth knowledge. Despite the demand, Bitcoin’s worth stayed caught beneath $80,000.
Spot Ether (ETH) ETFs added $824 million over the identical stretch. BlackRock’s ETHA fund led that class too, extending its personal influx streak to 10 straight buying and selling days. Both merchandise drew robust institutional demand, at the same time as Bitcoin struggled to carry its latest features.
Why Bitcoin’s Price Isn’t Following ETF Money
The stall traces largely to the Federal Reserve. Fed Chair Kevin Warsh delivered a hawkish keynote on the Aug. 28 Jackson Hole Economic Policy Symposium.
He warned that inflation remained an even bigger concern than the labor market and declined to rule out a charge hike. Bitcoin slid from round $79,500 to beneath $77,000 within the hours that adopted. Traders priced in larger odds of a hike on the Fed’s September assembly.
Bitcoin additionally faces a longer-term technical hurdle. On-chain analytics agency CryptoQuant has pointed to a bull market confirmation tied to Bitcoin’s 365-day shifting common, close to $83,000. BTC has repeatedly failed to shut above that degree, regardless of its rally from the mid-$60,000s.
Inflow Streak Comes to an End
The nine-day Bitcoin ETF inflow streak that carried into final week’s complete ended on Aug. 28. Funds recorded a $201.81 million web outflow that day. Even so, August stays 2026’s strongest month on file for the merchandise, with greater than $3 billion in web inflows.
Whether Bitcoin can convert renewed ETF demand right into a decisive break above $80,000 could rely on the Fed’s subsequent strikes. An in depth above its 365-day shifting common would assist, too, one thing it has not managed for the reason that rally started.
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