Bitcoin ETF outflows resume as price dips below $80K, while altcoin ETFs continue to see inflows.
After nine days of inflows totaling $3.04 billion, U.S. Spot Bitcoin ETFs recorded $201.81 million in outflows on August 28 as Bitcoin's price fell from $80K to around $78,275. Meanwhile, altcoin ETFs like Ethereum, XRP, and Solana continued to attract inflows, with Ethereum ETFs gaining $102.18 million on the same day. This shift suggests investors may be moving towards altcoins ahead of the historically weak Bitcoin performance in September, although recent years have seen this pattern weaken. The altcoin season index currently indicates a Bitcoin-dominant market, leaving room for Bitcoin to regain strength.
After nine days of inflows totaling $3.04 billion, U.S. Spot Bitcoin ETFs recorded $201.81 million in outflows on August 28 as Bitcoin's price fell from $80K to around $78,275. Meanwhile, altcoin ETFs like Ethereum, XRP, and Solana continued to attract inflows, with Ethereum ETFs gaining $102.18 million on the same day. This shift suggests investors may be moving towards altcoins ahead of the historically weak Bitcoin performance in September, although recent years have seen this pattern weaken. The altcoin season index currently indicates a Bitcoin-dominant market, leaving room for Bitcoin to regain strength.
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