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2w ago

Bitcoin Holds Near $107K After First Monthly ETF Outflow as Ethereum Dominates August Inflows

Institutional flows favor Ethereum over Bitcoin.

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Overview

  • Bitcoin trades around $107,000–$109,000 after a roughly 13% pullback from its mid‑August record near $124,000.
  • U.S. spot Bitcoin ETFs recorded about $751 million in August net outflows, while Ethereum funds took in roughly $3.9 billion for the month.
  • Weekly CoinShares data show $2.48 billion entering digital asset products, with Ethereum capturing 57% of inflows and Bitcoin drawing $748 million for the week despite its monthly outflow.
  • On‑chain metrics are mixed: Bitcoin has fallen below short‑term holder cost bases, yet Delta Cap near an implied $108,900 and a positive Coinbase Premium Gap (+11.6) indicate underlying support.
  • Derivatives positioning has added volatility, with CoinGlass tallying about $196 million in Bitcoin long liquidations and $274 million across crypto in 24 hours, as analysts flag potential tests of $100,000 or a $93,000–$95,000 floor if supports fail.