Overview

• U.S. spot Bitcoin ETFs took in roughly $2.3 billion over the past week, including $642 million on Sept. 12 and a 5,900 BTC intake on Sept. 10.
• Bitcoin is pinned between $114,000 and $116,000, with resistance at $116,000–$117,500 that could open a path toward $120,000–$125,000 if cleared.
• The Federal Reserve announces policy on Sept. 17 at 2 p.m. ET, with markets pricing a 25 bp cut near 96% odds that could steer risk appetite.
• On‑chain and market structure show coins leaving exchanges, spot volumes sliding to about $322 billion in August, open interest near $42 billion, and a low risk index reading signaling calm before potential swings.
• Whale flows remain mixed as a long‑term holder sent 1,176 BTC (about $136 million) to Hyperliquid, short‑term holders realized roughly $189 million in daily profits, and about $194 million in positions were liquidated in the last 24 hours.