Crypto
Bitcoin Price Stuck at $77,000 as ETF Investors Whipsaw Between Buying and Selling
Bitcoin's price has been stuck in a narrow range around $77,000 for several days, mirroring the whipsawing behavior of investors in US spot Bitcoin ETFs.
Data from SoSoValue shows that the funds have seen a four-session pattern of investors repeatedly switching between buying and selling, with inflows reaching $101.2 million on Sept. 2 after losing $236.5 million a day earlier.
The funds attracted more than $3 billion in fresh capital over the past 30 days, contributing to a 22% rise in BTC price during this period.
In contrast, Ethereum, XRP, and Solana funds had been attracting capital even during Bitcoin's weaker sessions, but Wednesday saw their first outflows in nearly two weeks.