Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Bitcoin ETF outflows hit 170 million dollars in a single day. On September 6, withdrawals reached 170 million dollars, according to Spot On Chain. Fidelity’s BTC was the hardest hit, losing 85 million dollars. Grayscale’s BTC followed with 52.9 million dollars in outflows. This investor exodus points to growing uncertainty.
It’s been a rough 1st week in September for Bitcoin 📉. Bitcoin ETFs that triggered the bull run to all time highs have experienced significant outflows totalling $501 mn excluding GBTC ($655mn including).
— India Crypto Research (@icr_indiacrypto) September 8, 2024
Does this signify institutional panic?
🧵👇 pic.twitter.com/LiJeYkWRh1
Volatility in the crypto market now appears to unsettle even seasoned investors. Global economic conditions, especially rising interest rates, are making investors more cautious. The cumulative outflows for the week hit 706 million dollars. This trend signals a short-term lack of confidence in Bitcoin, which can result in an extension of the ongoing bearish trend for BTC.
Key Bitcoin Levels To Watch – September 8
BTCUSD is currently trading below the 9-day SMA at $56620, signalling bearish momentum. Price action indicates the pair is approaching an order block (OB) around $56500, which could serve as a strong resistance zone. The MACD remains bearish, with both the MACD and signal lines in negative territory, reinforcing downside pressure.
Once BTCUSD touches the OB, a rejection is expected, pushing the price downward. Key support levels to watch are $49050 and $45000, with a potential drop as low as $38500 if bearish momentum intensifies. A break below $49050 would confirm further bearish continuation in the short to midterm.
BTCUSD Key Levels
Resistance Levels: $65000, $61910, $73840
Support Levels: $49050, $45000, $38500
BTC/USD Metrics
Total Market Capitalization: $1.93T
Bitcoin Market Capitalization: $1.07T
Bitcoin Volume: $15.89B
Market Rank: #1
Make money without lifting your fingers: Start using a world-class auto trading solution
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.
