Bitcoin dips below $78K as US spot Bitcoin ETFs see $201.9M outflows after nine-day inflow streak.
Bitcoin traded near $77,500 on August 29 after US spot Bitcoin ETFs experienced $201.9 million in net outflows, ending a nine-session streak of inflows. The price dropped 2.9% in 24 hours but held support around $77,000. Analysts identify $72,000–$74,500 as the next key buying zone if support fails. The outflows followed Federal Reserve Chair Kevin Warsh's speech signaling persistent inflation and cautious monetary policy, which pressured risk assets including Bitcoin. Despite short-term weakness, daily technical indicators remain broadly bullish, with Bitcoin trading within a $72,441–$83,939 range. The market awaits a move above $80,000 to confirm recovery or a drop below $72,441 to signal a bearish shift.
Bitcoin traded near $77,500 on August 29 after US spot Bitcoin ETFs experienced $201.9 million in net outflows, ending a nine-session streak of inflows. The price dropped 2.9% in 24 hours but held support around $77,000. Analysts identify $72,000–$74,500 as the next key buying zone if support fails. The outflows followed Federal Reserve Chair Kevin Warsh's speech signaling persistent inflation and cautious monetary policy, which pressured risk assets including Bitcoin. Despite short-term weakness, daily technical indicators remain broadly bullish, with Bitcoin trading within a $72,441–$83,939 range. The market awaits a move above $80,000 to confirm recovery or a drop below $72,441 to signal a bearish shift.
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