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Bitcoin Tumbles Below $78K as US Spot ETFs See Massive Outflows

Guavy AI Editorial Team
Instruments
BTC
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Bitcoin's price has dropped below $78,000 after US spot Bitcoin ETFs saw $201.9 million in net outflows on August 29.

This marked the end of a nine-session streak of inflows into these funds.

The price decline was largely attributed to Federal Reserve Chair Kevin Warsh's speech signaling persistent inflation and cautious monetary policy, which pressured risk assets including Bitcoin.

Despite the short-term weakness, daily technical indicators remain broadly bullish, with Bitcoin trading within a $72,441-$83,939 range.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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