Bitcoin Range Bound as ETF Inflows Return Amid Cautious Price Prediction

Bitcoin's price prediction remains cautious as it continues to trade within a well-established range between $58,000 and $68,700. The cryptocurrency is currently testing both the descending trendline from May's high and its 20-day EMA at $63,849.57.

The trendline has been a major cap on Bitcoin's rallies since May, and clearing it would be a significant sign that downtrend pressure is easing. However, the EMA stack above still looks stretched, with the 50-day sitting at $64,301.37, just overhead, followed by the 100-day at $66,311.52.

ETF inflows returned on Monday after a rough week, with Fidelity's FBTC leading the way with $111.90 million in new money. This influx of capital follows last week's steepest outflow since early July, which saw $389.71 million leave the funds.

The supply-in-loss crossover, where more than half of circulating Bitcoin is currently held at a loss, has historically preceded major recoveries. However, this pattern does not guarantee the current cycle will follow suit.