Bitcoin’s Price Movement
Bitcoin’s price has fallen to $112,566 within the last 24 hours, currently stabilizing around $113,500 with buyers showing faint interest. Recent trends in the ETF flows signal a pause in momentum for Bitcoin
$112,574, with significant outflows intensifying the situation—amounting to half a billion dollars in losses yesterday alone. The August 1st outflow of $812 million had set a precedence, but yesterday’s exodus was the largest for the month. Similarly, Ethereum (ETH)
$4,126 has seen a whopping $400 million outflow, sparking questions about current market conditions.
Bitcoin’s Decline
The outflows from ETFs highlight a reality where professional investors are shying away from perceived risks. Since the end of July, concerns have emerged about how tariff-induced inflation would impact the markets. With combined BTC and ETH outflows nearing a total of $1 billion in just a single day, the lack of enthusiasm on the spot markets becomes glaringly apparent.
The analyst known as Altcoin Sherpa suggests that opening short positions on BTC at the current level can be risky. Expecting a short-term test of $117,000, Sherpa has shared a chart to caution investors.
“If you’re not scalping, opening a short position on BTC at these levels might not be advisable. A recovery between $110k-$113k is anticipated. How strong will the rebound be? It’s uncertain, but a move to at least $117k or higher seems likely in the short term.”
DaanCrypto has released a heatmap focusing on liquidity. BTC has been oscillating within the same range for the past six weeks, affecting liquidity from both sides. The analyst is particularly eyeing the $112,000 to $120,000 levels for potential reversals or pull factors.
“Pay attention to these areas, as they often act as zones for local turnarounds and/or magnets when prices approach.”
– DaanCrypto
Bitcoin is currently pulling back toward $112,000, with the $112,500 support standing firm for now. Should upcoming Fed minutes reveal hawkish details on tariff interest rate impacts, this could lead to further downturns.
Institutional Demand and Ethereum
Despite significant outflows in the ETH ETF channel, institutional interest tells a different story. The last ATH attempt was triggered by two companies aiming to acquire $30 billion in ETH, with no indications of backing out. Miles Deutscher’s chart contrasting BTC and ETH reflects the striking differences, suggesting that ETH could potentially overtake BTC in institutional trading volume.
“This is a crazy chart. ETH is surpassing BTC in Treasury Company trading volume. Clearly, ETH has much more room to grow compared to BTC and a far less saturated trading volume is evident.”
– Miles Deutscher