Bitcoin broke above $80,000 last week but it has not managed to go much further.
ETF demand has also become less consistent. Nine consecutive days of inflows carried us through the breakout. Since the Fed’s hawkish message at Jackson Hole, we have had an outflow, an inflow and then another outflow.
That is hardly enough to call the end of the trend. But with inflation still elevated and a complicated macro backdrop, it is worth asking what a realistic month of ETF demand now looks like.
That’s what we’ll look at today. We will update our flow scenarios for September and then see where they would put Bitcoin’s price over the next 30 days.
So let’s look at the data.
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Ready? Let’s dig into the data.
