Bitcoin Moves Sideways Near $78,000 as ETF Demand Rises but Spot Buying Slows
Minseung Kang
Summary
- Bitcoin is moving sideways near $78,000.
- Capital inflows into the market, exchange-traded fund (ETF) demand, and futures-market leverage are all increasing.
- But spot buying momentum is slowing, and volatility-related indicators remain deeply negative.
Forecast Trend Report by Period
Bitcoin is moving sideways near the $78,000 level as capital inflows and demand for exchange-traded funds increase, though momentum in the spot market is weakening, according to an analysis.
On Sept. 8, on-chain analytics firm Glassnode wrote on X, formerly Twitter, that Bitcoin had remained near $78,000 to $79,100 over the past week without major swings.
Glassnode said capital inflows into the market, ETF demand and leverage in the futures market were all rising. But spot buying momentum has slowed, while volatility-related indicators remain deeply negative, leaving bullish and bearish factors evenly matched.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.