Bitcoin continues to strengthen its upward trajectory, supported by surging institutional demand and renewed trading activity. Despite some signals of cooling momentum, the recent spike in Bitcoin exchange-traded fund (ETF) inflows and recovering market sentiment are fueling optimism for a continuation of the current bull run.
Rally Targets Set Amid Institutional Demand
At the latest check, Bitcoin traded at $79,310.83, recording a 24-hour increase of 1.10%. The total trading volume reached $48.11 billion, while market capitalization stood at $1.59 trillion, reflecting Bitcoin’s status as the leading cryptocurrency by value.
Crypto analyst Wealthmanager observed that Bitcoin recently defended the $61,000 support twice, forming a robust base for further gains. Following this confirmation, Bitcoin moved above $80,000 and regained its place within a broad ascending channel. Should buyers decisively seize control between $80,000 and $81,000, analysts believe the price could approach the next major resistance near $97,000.
Clearing the $97,000 barrier with strong momentum may pave the way for an advance toward prior record levels near $125,000, according to Wealthmanager’s outlook.
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AAPLWealthmanager highlighted that “Bitcoin reclaimed its broader bullish structure after holding the $61,000 region, and a decisive move above resistance could open the route toward $125,000.”
The long-term chart continues to suggest accumulation, typically seen in periods preceding major uptrends in cryptocurrency markets.
Mini dictionary: Wealthmanager is a pseudonymous analyst who shares technical analysis and market outlooks on social media platforms, focusing primarily on cryptocurrency trends and price movements.
Indicators Show Short-Term Pause as Activity Rises
Technical analysis posted on TradingView showed that Bitcoin rallied sharply after hitting a July low around $58,000, then stabilized near $64,000 before pushing past $81,400 in recent trading. Currently, the price has slightly retreated as it hovers near key psychological levels, suggesting buyers are testing resistance zones.
Momentum indicators signal a possible pause. The relative strength index (RSI) declined from overbought territory at 74 to 67.61, and the moving average convergence divergence (MACD) histogram turned negative at -32.75. Such signals often hint at short-term consolidation despite a positive longer-term trend.
MACD lines indicate a potential bearish crossover, which could lead to a temporary retracement. Even so, the overall sentiment remains bullish, reflecting the broader market structure.
Recent data from Coinglass underscored rising market engagement, with Bitcoin’s trading volume surging 82.98% to $109.11 billion. The open interest also climbed 1.52% to $55.59 billion, highlighting increased trader participation.
| Metric | Previous | Current | Change |
|---|---|---|---|
| BTC trading volume | $59.63 billion | $109.11 billion | +82.98% |
| Open interest | $54.77 billion | $55.59 billion | +1.52% |
ETF Inflows Highlight Strong Institutional Interest
Platform Wu Blockchain reported that spot Bitcoin ETFs recorded net inflows of $731 million on September 3, attributing much of this demand to heightened interest among institutional investors. BlackRock’s iShares Bitcoin Trust (IBIT) led the segment, drawing $454 million in net inflows, which reflected ongoing appetite for regulated Bitcoin products among large investors.
Ethereum spot ETFs also attracted new capital. The total net inflow to Ethereum-based funds reached $141 million within the period. BlackRock’s ETHA ETF contributed the largest share, totaling $72.07 million in net investments. These inflows suggest that institutional sentiment remains constructive for the two largest cryptocurrencies.
Bitcoin’s direction going forward may depend on buyers’ ability to sustain momentum and break higher resistance levels. Persistent interest could trigger additional breakouts, while waning enthusiasm might delay the next leg upward or prompt short-term consolidation.
BlackRock’s IBIT set the pace in Bitcoin ETF inflows, confirming continued institutional preference for exposure to Bitcoin through traditional financial products.
