Institutional money is rotating: BTC ETF outflows, ETH ETF pulls in $216 million in a single day
On September 11, this set of ETF flows says more than the price action. Based on publicly tracked data: on that day, the U.S. spot Bitcoin ETF saw net outflows of about $13.29 million. On the same day, the Ethereum spot ETF saw net inflows of about $216 million. One side is reducing while the other is adding—more like “rotation within crypto,” not an overall pullout of capital. Take another look at the price: BTC is still hovering around the $770,000 area; ETH is up more than about 2%, trading above roughly $2,510–$2,520. Short-term sentiment has also warmed up a bit. A few plain-language key points: 1) The cumulative outflows from BTC ETFs in the past few days are already quite significant. On the 11th, the outflows narrowed—more like “bleeding slows down,” not an immediate reversal.
BTC stuck at $77k: 1 million BTC walls both above and below—what to watch before the FOMC
Bitcoin is currently stuck around $77,000. On both sides there are “thick walls.” On-chain cost distribution charts show: about 1 million BTC are clustered in the $62,000–$65,000 range below, and about 1 million BTC are also clustered in the $84,000–$87,000 range above. The current price is squeezed in between—either breaking down or pushing up, and market views are sharply split. At the same time, everyone is still watching next week’s FOMC. In public discussion, the probability of a September rate hike has been mentioned as being above 80%; U.S. stocks and risk assets will also price around this statement. On top of that, in recent days there have still been reports of net outflows from spot Bitcoin ETFs, so liquidity conditions are not exactly comfortable.
BTC is still fluctuating at the moment, I won't consider it strong until it surpasses 68,600. The open interest hasn't really expanded, and the funding rate is also neutral, so this rise feels more like a test rather than a main rally. My thoughts are very simple: If it stabilizes above 68,600, then I'll be bullish, If it drops below 67,800, then I'll be bearish, If it’s stuck in between, I won’t act.
This wave of BTC is slightly bullish, but the pressure around 68,500 is still very obvious. Don't rush if it hasn't passed. The price is bouncing, but the OI is shrinking, and the funding rate isn't cooperating. This feeling is more like a pressure test rather than a true breakthrough. So here's how I see it: If it rises above 68,600, continue to be bullish; If it surges and falls back, treat it as a false breakout; In the range between 68,000 and 68,600, it's better to take less action.