Bitcoin News Today: Bitcoin ETFs Anchor Price, But Macro Volatility Casts Long Shadow Over $120K Hopes

Bitcoin remains under pressure near the $110,000 level despite continued inflows into U.S. spot Bitcoin ETFs. According to on-chain analytics, the cryptocurrency is perched above key support levels, with the UTXO Realized Price Distribution (URPD) metric highlighting $108,250, $104,250, and $97,050 as critical zones of buying activity [1]. These levels, backed by substantial historical cost bases, could provide a buffer for BTC as bears continue to test the current price floor.

The U.S. spot Bitcoin ETF market has seen significant weekly inflows, with the iShares Bitcoin Trust (IBIT) leading the charge by attracting $434.3 million in the last week alone [4]. This brought IBIT's assets under management to nearly $58.6 billion, solidifying its position as the largest single issuer of Bitcoin-backed ETF products. Fidelity’s FBTC also added $25.1 million, while Grayscale’s Bitcoin Mini Trust (BTC) reported $33.2 million in inflows. However, the market has also seen outflows, with ARKB, BITB, and GBTC recording combined redemptions of $228.1 million.

The ETF flows highlight a broader divergence in investor sentiment compared to Ethereum, which has experienced outflows of $766.3 million during the same period [4]. Despite Bitcoin ETFs maintaining a net positive flow, the broader market remains cautious, with BTC trading at $110,263 as of September 6, down 0.39% on the day. The price has held above $110,000 for two consecutive sessions but remains 2% below its August peak of $123,731. Year-to-date gains remain intact, but the divergence between Bitcoin and traditional safe-havens like gold and equities has sparked questions about Bitcoin’s ability to reassert itself as a digital store of value.

Market positioning shows that ETFs and ETPs now hold 1.47 million BTC, or approximately 7% of Bitcoin’s maximum supply [4]. U.S.-listed ETFs account for 1.29 million of that total, with IBIT dominating at 746,810 BTC under custody. The growing institutional footprint reflects broader adoption, though recent outflows in August underscore the cyclical nature of institutional flows.

The macroeconomic environment is shaping the near-term outlook. A weak U.S. jobs report in August, which added only 22,000 positions compared to expectations of 75,000, has reinforced bets on a potential Federal Reserve rate cut in September [3]. Analysts and White House officials have increasingly pushed for monetary easing, with the White House criticizing Fed Chair Jerome Powell for delaying action. The rate cut, which has a 99% probability according to current market pricing, is seen as a key driver for Bitcoin’s trajectory.

However, analysts warn that the anticipated rate cut may not be sufficient to push BTC beyond $120,000 [1]. On-chain data suggests that the next resistance level is near $116,963, where a significant number of investors with cost bases in that range could trigger selling pressure if the price returns to those levels. Technical indicators also suggest a cautious stance: the RSI for BTC/USD is below 50, while the MACD is losing bullish momentum. A failure to break above $112,000 could open the door for further declines toward $107,500.

Bitcoin ETFs have become a key floor for the price, with sustained inflows providing a degree of stability in a volatile market. However, the ETF-driven demand is not immune to macroeconomic shifts or regulatory uncertainties, particularly as the SEC continues to evaluate additional crypto-related ETF applications. For now, Bitcoin ETF flows support a cautious bullish stance, but execution risk remains high in the context of macroeconomic volatility.

Source:

[1] On-Chain Data Reveals Critical Support Levels For Bitcoin (https://www.mitrade.com/insights/news/live-news/article-3-1102430-20250908)

[2] Bitcoin Price Weakens – Fresh Downside Risk If Bulls Fail Soon (https://cryptorank.io/news/feed/91dbf-bitcoin-price-weakens-112k)

[3] Jobs slowdown seals Fed rate cut as White House criticizes Powell for not acting sooner (https://finance.yahoo.com/news/jobs-slowdown-seals-fed-rate-cut-as-white-house-criticizes-powell-for-not-acting-sooner-150805909.html)

[4] Bitcoin (BTC-USD) ETF Inflows Hit $250M as Price Holds $110K (https://www.tradingnews.com/news/bitcoin-btc-usd-etf-inflows-top-250m-usd)

[5] Bitcoin ETF Flow (US$m) (https://farside.co.uk/btc/)