Bitcoin (BTC) Spot ETF Inflows Top $730 Million, Highest Since January

ETF Inflows Cross $730 Million in a Day

Bitcoin (BTC) is holding the $80,000 level despite a heavier macro backdrop, and the demand side of the market is doing much of the work. Bitcoin slipped by roughly $3,000 in the hours after the latest US jobs report — a print strong enough to lift bets on another Federal Reserve rate hike — but the drawdown was absorbed quickly, and the asset remains about 25% higher over the past month. The most striking datapoint sits in the ETF complex: spot Bitcoin exchange-traded funds took in more than $730 million in a single session on Thursday, the largest one-day tally since January. That is a meaningful signal, because it arrived while bond yields were rising, the dollar was firming and broad risk appetite was deteriorating — conditions that normally starve speculative assets of fresh capital. Our reading of the flow pattern is that institutional bid depth, not retail momentum, is what kept the price from breaking key support after the jobs shock, echoing the pattern we flagged when Bitcoin slipped below $80,000 after strong US jobs data.

Gold Correlation Hits Post-Pandemic High

Alongside the flows, Bitcoin's statistical profile is quietly changing shape. The correlation between Bitcoin and gold has climbed to its highest level since the COVID-era pandemic period, moving from levels near zero at the start of the year to above 50%, according to Grayscale research head Zach Pandl. Over the same window, the correlation with the Nasdaq 100 has fallen sharply — from more than 60% to roughly the 30-33% range. The shift tracks the mid-August rally that began after the US Treasury doubled the per-operation cap on its buybacks of long-dated government bonds, from $2 billion to $4 billion. Bitcoin ran from under $65,000 to above $80,000 within days; gold climbed from about $4,350 to nearly $4,700 per ounce before easing. With US federal debt now above $40 trillion and deficits still widening, the so-called debasement trade — allocation into scarce assets as a hedge against currency erosion — has returned to the center of investor conversation, reviving elements of the classic Bitcoin Maximalism thesis in mainstream portfolios.

Trader Killa Flags a Range-Bound Phase

Not everyone is reading the tape as a straight trend continuation, however. Trader Killa, in a post on X, argued that after a large directional move, Bitcoin commonly enters a sideways phase — and that with the market having already posted a strong advance, a period of range consolidation is the base case rather than an immediate extension higher. He views the broader trend as having turned bullish, but stresses that the more informative test is how price reacts on pullbacks rather than how far it can be chased at highs. Shorting at the top of a range is not off the table, he noted, but it is counter-trend trading and position sizing has to reflect that. The caution echoes earlier technical discussion of a falling wedge on the daily chart and the observation that the market had not consolidated long enough to build a durable base. For leveraged traders, a tighter range means entry prices and loss limits need sharper management; for HODL holders, the key variable is whether volatility keeps compressing rather than the next tick of direction. Readers tracking the market in real time can follow live spot and futures prices on Bitget.

CPI and Fed Decision Loom Over $80K

Updated flow data now puts the institutional picture in fuller context. Beyond the single-session figure already cited, spot Bitcoin ETFs absorbed nearly $986.85 million across the full week, with the Thursday haul of $730.87 million capping a run that offset a $201.81 million net outflow on Friday and a $236.46 million withdrawal on September 1. That pushed cumulative net inflows to $55.62 billion, recovering from the $51.79 billion trough in mid-August, and built on the prior week's $1.92 billion. BlackRock's IBIT continues to dominate with cumulative net assets above $62.6 billion, ahead of Fidelity's FBTC and Grayscale's GBTC. The Ethereum complex added its own support, posting inflows in eight of the past nine weeks, reinforcing the read that the bid is broad-based rather than a one-day anomaly.

The geopolitical backdrop has also deteriorated over the weekend, giving the $80,000 defense a new test. US and Iranian forces exchanged fresh attacks, with Iran's Revolutionary Guard firing ballistic missiles at two US Navy vessels while Washington struck Iranian crude carriers near the Strait of Hormuz, and Brent oil is approaching $100 per barrel — a development that itself feeds inflation risk. Fed Chair Kevin Warsh used his Jackson Hole remarks to call inflation still too high, saying the central bank has work left to do, and September hike odds briefly touched 65% after the jobs print. Domestic surveys point the same way: only 29.3% of 2,000 Korean investors polled expect gains this week, and 36.4% say no rebound is sustainable without a Fed pivot toward rate cuts and added liquidity.

(as of 22:14 UTC) The common thread across COINOTAG's proprietary 42-indicator composite, derivatives positioning and sentiment data is that Bitcoin is consolidating sideways near $79,728.00, down a modest 0.21% over the past 24 hours, with a $1.6 trillion market cap and $7.05 billion in 24h volume. The cleanest primary evidence remains the composite S/R record itself: the strongest support sits at $79,412.73 (score 76/100), a confluence of S2, LVN, HVN and Fibo 0.114, backed by $77,587.83 (67/100) at the Swing Low, Fibo 0.214 and EMA 20 cluster; on the upside, resistance stacks at $83,390.91 (78/100) from Fibo 0.000, the Donchian Upper and Swing High, with the nearer $79,824.58 pivot zone (45/100) marking the first test. The whale-class read from the derivatives book is constructive but balanced: funding at 0.0022%, open interest near $15.6 billion and a 1.14 long/short account ratio point to mildly leveraged longs without overheating, while the RSI at 66.35 and a bearish MACD signal suggest limited near-term momentum within the range. Sentiment skews Greed at 73/100, and BTC's 68.2% share of COINOTAG's tracked $2.35 trillion market underlines its dominance of flows. Until the range resolves, the $79,412.73 support — and the reaction to each dip within the band — remains the level to watch. Follow our ongoing Bitcoin coverage as the data arrives.