Bitcoin price holds near $77.5K as US spot ETF outflows reach $202M

Bitcoin (BTC) was trading around $77,500 on Aug. 29, down 2.9% over the previous 24 hours but remaining above the key $77,000 support level.

ETF capital flows reverse

US spot Bitcoin exchange‑traded funds recorded a net outflow of $201.9 million on Aug. 28, ending a nine‑session streak of inflows. ARK 21Shares’ ARKB led the withdrawals with $114.9 million, followed by Bitwise’s BITB ($49.7 million) and BlackRock’s IBIT ($33.4 million). Morgan Stanley’s MSBT posted a modest $9.3 million inflow, while other listed funds showed no net movement. The swing represents a $444.2 million day‑over‑day change from the $242.3 million inflow reported on Aug. 27, though the ETF group still attracted $924.5 million during the week of Aug. 24‑28.

Technical outlook

On the 4‑hour chart, BTC moved below the Bollinger Band midpoint ($78,815). The lower band now sits at $76,992, overlapping the immediate support zone of $76,500‑$77,000. A close below this range could extend the correction, while holding it leaves room for a test of $78,000.

The Chaikin Money Flow (CMF) fell to –0.14, indicating that selling pressure outweighed buying pressure in the latest session.

Daily indicators remain broadly bullish: the MACD line sits at 3,950.79 above the signal line (3,256.24), and the histogram stays positive at 694.55, though its bars are shrinking. The daily RSI is 69.55, just below the overbought threshold of 70, suggesting room for further consolidation.

Key price zones

• Immediate support: $76,500‑$77,000
• Potential buying area if support fails: $72,000‑$74,500
• Resistance levels: $78,800, $79,200‑$80,000, and $83,939 (long‑term resistance)

Market context

The ETF outflow followed Federal Reserve Chair Kevin Warsh’s Jackson Hole remarks, in which he noted inflation remaining above the Fed’s 2% target and described financial conditions as “difficult to call restrictive.” While the speech did not signal an imminent rate hike, it reduced expectations for near‑term monetary easing, a factor that can dampen demand for risk assets such as Bitcoin.

Liquidity clusters identified by CoinGlass show concentration above $78,500‑$79,000 and around $80,300‑$80,500, with a smaller cluster near $76,700‑$77,000. Breaching these zones could influence short‑term price direction.