Bitcoin Consolidation Tightens Ahead of Key Support

The price of Bitcoin (BTC) remains in focus as it trades at $78,912, posting a slight intraday decline. The asset stays above its short-term average but below the intermediate moving average. Despite this, BTC is well clear of longer-term trend support.

According to data, U.S. spot Bitcoin ETFs drew a record $2.72 billion of inflows in August 2026, significantly increasing institutional exposure to crypto. This influx of capital comes amidst heightened regulatory focus in Asia, with Thailand's securities regulator launching a public consultation on draft rules for spot Bitcoin and Ethereum ETFs.

BTC/USD is expected to consolidate within a range of $77,068 to $84,790 over the next two to three sessions, representing a typical volatility band relative to current levels. The probability of an upward breakout is assessed at 72%, with a bullish scenario seeing prices break above resistance toward the upper band.