Bitcoin rose 1.41% in the past 24 hours to $79,509.65, tracking gains in the wider crypto market as spot ETF inflows reignited bullish momentum. The overall market advanced 1.43% during the period, signaling that demand extended beyond the leading cryptocurrency.
ETF inflows boost Bitcoin
Analysts at Glassnode recorded $643 million entering spot Bitcoin ETFs on Thursday, marking the highest single-day inflow since January. Farside compiled a total of $730.8 million added to various Bitcoin spot funds over the same time frame. These inflows have pushed spot Bitcoin ETF assets to $99.61 billion as of the end of August, a sharp increase from $76.29 billion in July.
Trading activity followed the same pattern. Monthly trading volumes in spot ETF products jumped nearly 49% in August to reach $58.63 billion. Spot Bitcoin ETFs attracted net inflows on 16 of the 21 trading sessions in August, including a run of nine consecutive positive days from August 17 to August 27. In total, $3.52 billion entered spot Bitcoin ETFs over the month, reporting the strongest net inflow for 2026 so far.
Spot Bitcoin ETFs drew $3.52 billion during August, their strongest month of 2026, with inflows recorded on 16 of 21 trading days.
However, the direction of fund flows turned mixed in September. On September 1, Bitcoin ETFs experienced $236.5 million in outflows, but this move was offset by inflows of $101.1 million and $730.8 million in the next two sessions. Another $174.6 million entered on September 4, yet the period ended with a $46.6 million outflow on September 8. Analysts cautioned that whether new institutional allocations continue or reverse will shape the near-term price outlook.
Correlations with traditional financial markets also remain high. Over the past week, Bitcoin’s seven-day correlation with the S&P 500 stood at 87.1%, underscoring the effect of broader market sentiment and macroeconomic data on crypto trends.
Macro factors and market sentiment
The crypto market faces a crucial test with US consumer inflation data scheduled for September 11. A higher inflation reading could pressure risk assets and drive yields higher, while softer numbers may boost liquidity-sensitive sectors, including digital assets. The Crypto Fear and Greed Index measured 74, placing the market in the “greed” zone and reflecting strong investor sentiment moving into a data-driven week.
In rapidly changing markets influenced by key events like Federal Reserve decisions or major altcoin listings, many investors feel the pressure to monitor prices, news, and data in real time. The constant need to switch between multiple platforms for trading, charting, and portfolio updates adds significant friction and can lead to missed opportunities. Responding to these needs, privacy-focused solutions such as CryptoAppsy are now gaining traction among active traders. Without requiring an account, CryptoAppsy provides integrated real-time charts, custom price alerts, coin-focused news, and macro data on a single screen, aiming to streamline the entire trading process.
On-chain data and key support levels
On-chain analytics offer another perspective on recent price moves. CryptoQuant contributor DanCoinInvestor highlighted that certain medium-term and long-term holders continued to realize losses. The Spent Output Profit Ratio (SOPR), which measures whether moved coins are spent at a profit or loss, has remained below 1 for these holders—indicating sales at a net loss.
Historically, SOPR readings below 1 can signal capitulation or market bottoms, as weaker holders exit while stronger buyers accumulate assets. However, CryptoQuant noted that this metric signals opportunity rather than certainty about a reversal, given that it does not quantify volumes by holder groups.
Periods below that threshold often appear during capitulation or bearish market conditions. They can also occur near local lows, when underwater holders sell while stronger buyers accumulate available supply. However, the metric does not guarantee a reversal or identify the volume sold by each holder group.
From a technical standpoint, Bitcoin faces key support in the $77,200-$78,000 range. Maintaining that range would open the door for a retest of $82,000, the next major area of resistance. Should support break, $74,700 is viewed as the next critical level. With Friday’s inflation report approaching, investors continue to look for signals that may determine whether buyers or sellers will set the near-term direction.
