Bitcoin continued to trade in a narrow range as the odds of an October rate hike fell to 30%. According to NS3.AI, Coinglass data showed 70,853 traders were liquidated for $193.49 million in the past 24 hours.

SoSoValue data showed spot Bitcoin ETFs recorded net outflows of $148.7 million on Wednesday, while spot Ethereum ETFs saw net outflows of $59.6 million. Analyst Benjamin Cowen said Bitcoin holding its former high as support would make this cycle different from the usual fourth-quarter weakness seen in midterm years.