Bitcoin Falters at $77K as ETF Flows Turn Negative
Bitcoin is testing the $77,000 area after experiencing negative ETF flows that weakened its institutional demand. The pullback follows an unsuccessful attempt to remain above $80,000, with sellers taking control after BTC briefly approached $81,200. US spot Bitcoin funds recorded $201.9 million in net outflows on August 28, ending nine consecutive sessions of positive flows.
The ETF market added pressure as ARK 21Shares' ARKB accounted for $114.9 million of the withdrawals. However, Bitcoin ETFs still attracted approximately $924.5 million across the wider August 24 to 28 period, showing that demand remained positive for the week despite the late reversal.
The change matters because ETF buying creates direct spot demand without relying entirely on crypto-native traders. When those flows weaken, Bitcoin must depend more heavily on open-market buyers to absorb selling and protect support. The next move depends on whether buyers can defend this range and rebuild momentum toward $80,000.