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BTC 
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XRP The flow of ETF funds shows mixed signals, with exchange data and giant whale activity showing mixed market sentiment. Bitcoin remained trading in the $79,000 to $80,000 range after August producer price index (PPI) data was slightly higher than expected. 21Shares strategist Matt Mena said Bitcoin could hit $100,000 in the fourth quarter. The flow of mid-currency into exchanges fell by 15.5%, easing selling pressure. The U.S. spot Bitcoin ETF drew $603.3 million in gold in the first six trading days of September. Since September 2, giant whale holdings have remained stable, maintaining around 5.22 million BTC.
Analysis of Bitcoin Price and ETF Fund Flow
PPI Data and Market Reaction
This week's new inflation data has provided traders with a new direction of thinking, with Bitcoin prices holding close to the support level of US$79,000. The U.S. Bureau of Labor Statistics released the August producer price index (PPI) on September 10. Final demand prices rose 0.4% month-on-month and 5.4% year-on-year. Both indicators are in line with or slightly below market expectations, keeping the market cautious.
Matt Mena, senior crypto research strategist at 21Shares, described the reading as "slightly above expectations." He told Bitcoin.com News that the market had previously priced the trend due to rising oil prices. Mena pointed out that it is increasingly likely that Bitcoin will hit US$82,000 before the end of the month. He added that Bitcoin could briefly fall to $75,000 before any further climb.
Energy costs are the main driving force behind the rise in PPI. Diesel fuel prices surged 24.1% in August, and overall energy prices rose 4.2%. Bitcoin has rebounded from a low of $77,603 to near the $80,000 mark. The rally comes as investors weigh inflation data against continued ETF demand.
ETF fund flows show mixed signals
As of September 4, the total net inflow of U.S. spot cryptocurrency ETFs was US$1.24 billion. Among them, Bitcoin funds accounted for US$986.85 million, accounting for about 79% of the total. Net inflows into Bitcoin ETFs in the first six trading days of September reached $603.3 million. Two net outflow trading days followed, with an outflow of $46.6 million on September 8 and an outflow of $120.24 million on September 9.
These withdrawals reduced total net asset values to US$99.33 billion from US$99.52 billion. However, Ethereum, XRP and Solana-related products still attracted fresh capital inflows within the same week.
Exchange data and whale activity
Since early August, midcoin deposits on platforms such as Binance, Coinbase Pro and Coinbase Prime have dropped by 15.5%. Inflows from Binance alone fell nearly 30%, from 4,390 BTC to 3,080 BTC. This change led to a 1,160 BTC volatility between exchanges rather than an increase in overall selling pressure. Since September 2, the giant whale's holdings have stabilized at around 5.22 million BTC, indicating that the largest holders have limited willingness to buy new.
Altcoins have outperformed Bitcoin in the past three weeks. Ethereum rose 29%, while Bitcoin rose 20%, and Hyperliquid was priced at nearly $90. Mena's outlook for the fourth quarter includes: Bitcoin of $100,000, Ethereum of $3,500, HYPE of $100 and SOL of $130. He pointed out that Ethereum's seven-month resistance is at $2,500, and a breakthrough could open a path to $3,000.
Subsequent important data nodes
The next major data point is the August Consumer Price Index (CPI), which will be released at 8:30 a.m. EDT on Friday. The Fed's two-day policy meeting will begin on September 15, just after the CPI is released.
