Bitcoin is trading at $62,800, down 1.4% on the day, and has spent the past two weeks bouncing inside a tight range. Last week, roughly $385 million exited Bitcoin exchange-traded funds as the price slipped nearly 3%, a sharp reversal from the $1.1 billion in inflows seen in early August. The Fear & Greed Index sits at 31, still in “fear” territory despite a modest daily gain.
ETF flows turn negative
The outflows mark a clear shift in sentiment. After a strong start to August, when more than $1.1 billion poured into Bitcoin ETFs, last week’s pullback saw investors head for the exits. The $385 million figure isn’t catastrophic, but it’s enough to keep pressure on prices that are already struggling to find direction. The fear gauge reading of 31 matches the mood — cautious, but not panicked.
Where the charts see support
Technically, Bitcoin is sitting on a cluster of support in the $61,800–$64,500 zone, which lines up with the 20- and 50-day moving averages. A daily close below $61,000–$62,000 would flip the structure bearish, opening the door to momentum selling toward the $58,200–$59,800 area — the line between a healthy pullback and a trend break. On the upside, a decisive break above $67,000 confirms an ascending triangle, with a path to $71,200–$73,200 and eventually a retest of the June high near $78,350. For now, the base case is more chop between $61,800 and $66,500 while ETF flows stabilize.
Fiscal strain as a bull argument
Macro investor Jordi Visser argues that US government fiscal strain, evidenced by recent yen intervention, will force more money printing. In that scenario, he says, Bitcoin becomes a deflationary hedge — especially as AI pushes production costs toward zero. It’s a long-term thesis, but one that some traders are leaning on while the price action stays stuck.
Bitcoin Hyper raises $33M in presale
Separately, Bitcoin Hyper, a Bitcoin Layer 2 with native Solana Virtual Machine integration, has raised $33,030,255.21 in a presale at a token price of $0.0136848. Staking rewards are already live at launch. The raise is a reminder that even with Bitcoin’s price rangebound, capital is still flowing into infrastructure projects built on top of the network.
