Bitcoin Loses ETF Bid, Slides to $76,000 Ahead of Fed Decision
Bitcoin (CRYPTO: BTC) weekly spot ETF flows turned negative for the first time in three weeks, putting the key $76,000 support level in focus ahead of the Fed decision. Spot Bitcoin ETFs recorded $463 million in weekly outflows, removing a key source of demand that helped propel BTC from roughly $63,000 to $82,000 over the previous three weeks. Since August, Bitcoin has been rejected around $82,000 three times but is yet to test the next major downside area around $72,000. Wintermute Research said on Tuesday that ETF reversal adds another risk as BTC lost $3,500 without the institutional ETF demand that supported its recent rally. Negative ETF flows prompt Wintermute to shift its crypto outlook to “neutral” from “constructive” early. Meanwhile, Ethereum (CRYPTO: ETH) and other altcoins held up better, with spot ETH ETFs attracting $197 million in weekly inflows. Are Macro Factors in Play? Bitcoin remains under pressure ahead of a likely September rate hike. With a hike largely priced in, BTC’s next move could depend on whether Fed Chair Kevin Warsh signals further tightening into 2027. Brent crude above $105 and a two-decade high in the 10-year Treasury yield add pressure on Bitcoi
Bitcoin (CRYPTO: BTC) weekly spot ETF flows turned negative for the first time in three weeks, putting the key $76,000 support level in focus ahead of the Fed decision. Spot Bitcoin ETFs recorded $463 million in weekly outflows, removing a key source of demand that helped propel BTC from roughly $63,000 to $82,000 over the previous three weeks. Since August, Bitcoin has been rejected around $82,000 three times but is yet to test the next major downside area around $72,000. Wintermute Research said on Tuesday that ETF reversal adds another risk as BTC lost $3,500 without the institutional ETF demand that supported its recent rally.
Negative ETF flows prompt Wintermute to shift its crypto outlook to “neutral” from “constructive” early. Meanwhile, Ethereum (CRYPTO: ETH) and other altcoins held up better, with spot ETH ETFs attracting $197 million in weekly inflows. Are Macro Factors in Play? Bitcoin remains under pressure ahead of a likely September rate hike.
With a hike largely priced in, BTC’s next move could depend on whether Fed Chair Kevin Warsh signals further tightening into 2027. Brent crude above $105 and a two-decade high in the 10-year Treasury yield add pressure on Bitcoin. Image: Shutterstock Read Also: 'Bitcoin Senator' Praises Trump for 'More than Expected' CLARITY Act Concessions