Bitcoin's Wild Ride Continues as ETF Investors Flip-Flop
Bitcoin's price has been stuck in a tight range around $77,000, and investors are feeling the same whiplash. This week saw another instance of US spot Bitcoin ETFs switching between inflows and outflows, with $101.2 million pouring into funds on September 2 after $236.5 million was withdrawn the day before.
This pattern has been repeating for four sessions now, with investors repeatedly buying and selling. The latest data from SoSoValue shows that the funds have attracted over $3 billion in fresh capital over the past 30 days, contributing to a 22% price increase in BTC during this period.
Meanwhile, other crypto ETFs are experiencing more stable trends. Ethereum, XRP, and Solana funds continued attracting capital even when Bitcoin's price was weaker, but on Wednesday they registered their first outflows in nearly two weeks.