Bitcoin's Spot ETFs Whip-Saw While Altcoin Funds Hit Roadblock

Bitcoin's price has been whipsawing around $77,000, mirroring the erratic behavior of its spot ETFs. The funds have drawn in and outflows in a four-session pattern, with investors repeatedly switching between buying and selling.

According to data from SoSoValue, US spot Bitcoin ETFs attracted $101.2 million on September 2 after losing $236.5 million the day before. This followed $216.7 million in inflows on August 31 and $201.9 million in withdrawals on August 28.

Despite this market volatility, Bitcoin ETFs have attracted more than $3 billion in fresh capital over the past 30 days, contributing to a 22% rise in BTC price during this period.

Ethereum, XRP, and Solana funds, which had maintained steady buying even as Bitcoin ETF demand swung between inflows and outflows, registered their first outflows in nearly two weeks on Wednesday. The reversal ended lengthy inflow streaks for these altcoin fund groups.