In the United States, the real bitcoin ETF was converted to a net outflow of $201.9 million on August 28 after nine consecutive trading days of net inflows. Bitcoin then fell, but as of the time of the release it remained above $77,000, while the market was concerned about the Federal Reserve ' s latest statement of repression of risk assets.

ETF single day to out

According to Farside Investers, United States spot bitcoin ETF combined net outflows of $201.9 million on August 28, ending the nine consecutive trading days of net inflows.

Of these, Morgan Stanley's MSBT recorded a net inflow of $9.3 million, partially offset the foreclosure pressure, while the rest of the listed funds remained largely unchanged.

Compared to the net inflows of $242.3 million on 27 August, the one-day reverse of $444.2 million occurred. However, throughout the week, from 24 to 28 August, the ETFs attracted $924.5 million in inflows.

The BTC fell and fell back at $80,000.

Bitcoin had previously tried to stay above $80,000, and had touched about $8.12 million earlier in the week, but was then pushed. On 29 August, BTC fell by approximately 2.9 per cent 24 hours, down to $77.07 million at one time and then back in the vicinity of $775 million.

From the short-line position, the Bryn Belt intermediate track is located at $78.81 million, with down-tracking to $76.99 million, close to supporting areas of $7.65 million to $777 million. If the region fails, the market may continue to test its lower position; if it does, there will still be an opportunity to explore $78,000 again.

The Fed's risk preference for a position of repression

The report mentions that the fall of the market is related to the policy statement at Jackson Hall. According to Federal Reserve Chairman Kevin Walsh, inflation is still higher than the Fed ' s target and the overall financial environment can hardly be said to be sufficiently tight.

In his speech of 28 August, he stated that the Federal Reserve ' s preferred inflation target was 3.7 per cent for 12 months and 4.1 per cent for 6 months, all above the 2 per cent target. This statement weakened market expectations for short-term easing.

In the case of the bitcoin market, maintaining interest rates at a high level usually increases the attractiveness of cash and national debt, and may also reduce the scale of capital flows to highly volatile assets.

Short-term liquidity concentrated between $785 and $805 million

The 24-hour liquidation heat of CoinGlass seeks to show that the above-bitcoin liquidity is concentrated in the range of $785 to $7.9 million and in the vicinity of $80.3 to $805 million; the bottom is in the range of $767 to $777 million, where there is a more visible liquidity build-up.

If prices are re-established at between $778 million and $788 million, short-line downward pressure is expected to ease, followed by resistance positions around $788 million and between $792 and $80,000. In the event of a collapse of $765 million, the market could look further at $757 to $766 million, or even $72,000 to $745 million in the region.