Bitcoin ETFs See $174M Net Inflow as Price Remains Within Bollinger Band
Bitcoin ETF flows recorded a significant net inflow on September 4th. A total of $174.6 million flowed into Bitcoin exchange-traded funds (ETFs), marking the largest influx in recent days.
The entire net inflow can be attributed to two products: IBIT and FBTC, which saw inflows of $117.4 million and $57.2 million respectively. Meanwhile, other products remained flat.
The current price of Bitcoin is sitting at $79,536.6 within its Bollinger band. The upper resistance level stands at $82,497.98, while the lower support level is at $75,718.06.
Despite the overall bullish structure above the 50-day exponential moving average (EMA) of $78,550.57, there are some warning signs for short-term price movement. The MACD death cross at 474.54 and a neutral relative strength index (RSI) value of 52.6 suggest that price may retrace towards the 50-EMA support before any further advance.