In mid-August, spot Bitcoin ETFs shifted to outflows, marking a reversal from the strong inflow trend earlier in the summer that had driven Bitcoin higher.
Bitcoin dropped below both the 20-day and 50-day moving averages, sitting below the 100-day and 200-day lines. The medium-term trend is now corrective.
Bitcoin trades at $62,829, down about $55,500 from one year ago and $30,000 below the $93,000 start-of-year level. Ethereum at $1,876.49, down 0.4% on the day.
The balance between restrictive U.S. interest rates and gradually improving liquidity will determine whether Bitcoin remains range-bound or begins recovery.
Monitor for ETF flow reversal and a test of $60,000 support. If flows stabilize above current levels, institutional re-engagement could signal a bottom forming.
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