Bitcoin remained steady near $79,000 as strong exchange-traded fund (ETF) inflows continued to provide support, with traders closely monitoring the key resistance area at $80,000.
Bitcoin price trades above key averages
At last check, Bitcoin was trading at $78,788.45, reflecting a 1.93% dip compared to the previous trading day. Despite this short-term weakness, the price remains well above major exponential moving averages (EMAs), signaling ongoing buying activity.
TradingView data show Bitcoin consistently trading above the 20-day, 50-day, 100-day, and 200-day EMAs. As of the latest reading, the 20-day EMA is at $76,715.73, the 50-day EMA at $72,047.78, the 100-day EMA at $70,254.03, and the 200-day EMA at $72,739.62.
Near-term resistance sits at $80,000, while bulls are likely to focus on the $82,500 level if Bitcoin breaks above that threshold. The ongoing bullish structure points to continued upward momentum as long as these moving averages hold as support.
The 14-day relative strength index (RSI) for Bitcoin stands at 61.50, comfortably below the overbought zone. While the RSI has cooled from recent highs, it remains above 50, indicating positive momentum despite the period of consolidation.
ETF inflows provide demand support
Platform Lookonchain reported net inflows of 2,038 BTC into Bitcoin ETFs in the last 24 hours, representing an influx of $161.83 million. Over the past seven days, net inflows reached 11,093 BTC, or approximately $880.76 million.
Lookonchain noted recent activity, commenting: “1D NetFlow: +2,038 $BTC (+$161.83M)” and “7D NetFlow: +11,093 $BTC (+$880.76M).”
With Bitcoin trading just below $80,000, these substantial ETF inflows have helped absorb selling and reinforce price stability near critical resistance levels.
SoSoValue, a leading analytics provider, recorded Bitcoin spot ETF flows of $174.60 million on September 4. Total net assets reached $101.25 billion, with cumulative net flows now standing at $55.62 billion.
Both Lookonchain and SoSoValue reflect robust and consistent demand for Bitcoin ETFs, even as the cryptocurrency approaches a major technical barrier.
Mini dictionary: SoSoValue, a data analytics platform focused on ETFs and crypto markets, reports on institutional inflows and market metrics for major cryptocurrencies worldwide.
| Date/Period | ETF Net Inflows (BTC) | ETF Net Inflows (USD) | Aggregate ETF Assets (USD) |
|---|---|---|---|
| 24h | 2,038 | $161.83M | – |
| 7 days | 11,093 | $880.76M | – |
| Sept 4 | – | $174.60M | $101.25B |
| Cumulative | – | – | $55.62B (net flows) |
Derivatives activity and technical outlook
According to CoinGlass, open interest in Bitcoin derivatives sits around $53 billion, supported by recent surges in trading volume. This increase suggests high levels of speculative positioning and points to elevated market activity across futures and options.
Traders are watching the $80,000 price level as essential for confirming further upside. Immediate support sits near the 20-day EMA of $76,715, while a fall below this could open the door for a retest of the $72,739 region.
Despite some short-term drawdown, Bitcoin’s overall technical structure remains positive, buoyed by ongoing ETF demand and solid institutional interest. However, volatility could rise if price action breaks key technical levels.
Bitcoin continues to attract ETF inflows and remains above its primary moving averages, setting $80,000 as the main resistance zone and $76,715 as the nearest support.
