Overview

• Bitcoin remains range‑bound around $110,000–$112,000, with Glassnode saying a sustained move above $114k–$116k is needed to confirm renewed momentum after short‑term holder profitability rebounded to about 60%.
• SoSoValue data show $301.3 million of net inflows to spot Bitcoin ETFs on Sept. 3 while spot Ethereum ETFs posted $38.2 million of net outflows, extending a three‑day losing streak.
• Fund‑level figures indicate BlackRock’s ETHA recorded roughly $151 million of outflows that day, partially offset by inflows to Fidelity, Grayscale and Bitwise ETH products, according to crypto.news.
• On‑chain and market analytics point to sustained ETH accumulation by large holders over the past five months and a multi‑month drop in exchange supply, even as recent ETF redemptions introduce near‑term headwinds.
• Derivatives positioning remains a risk factor, with roughly $225–$250 million in 24‑hour liquidations recently reported and liquidation clusters noted around $112,200 and $110,000 on major venues.