Bitcoin's Short-Term Direction Remains Unclear Amid Resistance

Bitcoin's short-term direction remains unclear according to Wintermute, a crypto market maker. The firm identified $75,000 and $82,000 as key price levels to watch.

Institutional inflows are supporting prices, with U.S. spot Bitcoin ETF net inflows reaching $924 million last week. However, this streak of consecutive inflows was snapped by a net outflow of $202 million on August 28.

The risk of further declines could rise if Bitcoin breaks below $72,000 on a weekly closing basis, Wintermute said. The firm cited the September FOMC meeting and the U.S. employment report as key drivers of rate-hike expectations and market direction.