Bitcoin ETF ends winning streak after more than $3 billion in capital inflows

Bitcoin's rally has obviously lost its luster, and related products have already felt the impact.

After experiencing a strong wave of capital inflows, the machine seems to have stalled slightly. People can't help but think now: Is this just a temporary pause, or is it the beginning of a real slowdown?

Brief review

On August 28, the Bitcoin ETF had a net outflow of US$201.8 million, ending a previous nine-day record of net inflows that had sucked away more than US$3 billion. Among them, ARKB monopolized the largest share, with an outflow of $114.9 million, followed by BitB ($49.7 million) and IBIT ($33.4 million). Morgan Stanley was an exception, recording a net inflow of $9.3 million.

The total inflow in the previous nine days still exceeded US$3 billion, peaking on August 20, reaching US$606 million. Despite this, August was still the strongest performing month for Bitcoin ETFs in 2026, with a total net inflow of US$3.3 billion. Total assets fell back to US$97.6 billion after briefly exceeding US$100 billion. The price of Bitcoin slipped from $81000 to about $77500.

analyst afsheenjaf summed up the situation quite clearly: "Bitcoin has just lost support that no one has noticed. What are the reasons? Because $6.4 billion in options expired this morning." This stagnation coincides with the failure of testing the $81000 mark.

Ethereum and Solana Crypto ETFs continue to attract capital

Bitcoin has stalled while other cryptocurrencies are still attracting money. The Ethereum ETF recorded net inflows for the 12th consecutive day, reaching US$102.2 million on August 28. XRP ETF added US$26.2 million. The cumulative net inflow of Solana ETF reached US$1.7 billion, of which Bitwise Solana ETF became the first product of its kind to exceed the US$1 billion mark. Bloomberg analyst Eric Balchunas commented that despite the "nightmarish downturn" in the first half of the year, the performance was still "impressive." Ethereum outperformed Bitcoin this week, gaining 31.3%, compared with Bitcoin's 23.6%. This divergence raises questions: Are investors really turning to altcoins? Or is it just a mismatch in time? At present, the capital rotation seems to be real. If Bitcoin continues to be trapped below US$80000, this round of rotation may continue.

The US$80000 mark is still suppressing Bitcoin

Technical resistance does exist. Glassnode data shows that 8% of Bitcoin supply is bought in the $80000 to $82000 range, of which about 5% is accurately concentrated around $80000. The 50-week moving average was at US$81081, and Bitcoin was suppressed and fell back after trying to test this position on August 28. Bitfinex's analyst team described the trend as "a squeeze on a specific selling group." The expiration of $6.4 billion in options removes some of the mandatory buying order surrounding $80000. Analyst afsheenjaf predicts a possible "shock wash" before the next stage. If Bitcoin loses $77500, the next support level is $75000. A clear rebound above $78500 would be a very positive signal for some traders. Therefore, weekend trends are crucial for subsequent markets.

Can capital inflows resume after the weekend?

Outflows on August 28 accounted for only 6.6% of the nine-day cumulative inflow of US$3 billion. Many analysts believe this is more profit-taking than a real institutional withdrawal. Future trends are highly dependent on upcoming macroeconomic data: the employment report and CPI will be released before the September 16 meeting. Anna Wong, chief economist at Bloomberg, predicts that the data may be weak or even negative. ETFs still hold more than 1 million bitcoins, and this reserve remains an important signal of long-term confidence. If Bitcoin continues to be trapped below $80000, the rotation to other cryptocurrencies may continue. The question remains open: Will the market sort out before a rebound or enter a more obvious correction? The answer will be given in the next few days.

Key Data List

Bitcoin price at the time of writing: US$77709; net outflow of Bitcoin ETF on August 28: US$201.8 million; days of broken inflow duration: 9 days; next major technical support level: US$75000; net inflow of Bitcoin ETF in August: US$3.3 billion. Recent events are prompting cryptocurrency traders to take a longer view. In a context of fiscal constraints, understanding and trading gold and dollars has become attractive. Markets are changing rapidly, and strategies must keep pace.