Bitcoin Price Dips to $108K Despite $219M Spot ETF Inflows
Bitcoin price plunged to $108,000 amid a sharp correction, even as spot Bitcoin ETFs broke a six-day outflow streak with $219 million in inflows. On August 25, Ethereum spot ETFs also saw $444 million of net inflows over three days. Fidelity’s FBTC led Bitcoin ETF inflows with $65 million, followed by BlackRock’s IBIT at $63.4 million. Despite the inflows, Binance funding rates remained heavily positive (0.005–0.008), indicating traders’ leveraged long positions and raising the risk of a long squeeze. Technically, Bitcoin price faces resistance at $117,800 (Fib 0.236) and $121,300 (Fib 0.382), with support levels at $108,000, $105,000, and $100,000. Momentum indicators (RSI 38.2, Chaikin Money Flow –0.02) point to bearish pressure. A sustained break below $108K could open the path to $100K support, while reclaiming $117K–$121K is needed for a bullish reversal in Bitcoin price toward $131K and $151K.
Bearish
The significant drop in Bitcoin price to $108K, despite substantial spot ETF inflows, underscores prevailing bearish pressure. Positive funding rates on Binance signal that traders are over-leveraged on long positions, heightening the risk of a long squeeze that could exacerbate sell-offs. Technical breakdown below key support around $109K and weakening momentum indicators (RSI, Chaikin Money Flow) further confirm bearish sentiment. Historically, similar ETF flow reversals during April’s tariff fears triggered sharp declines. In the short term, Bitcoin may test $100K support; only a reclaim of $117K–$121K would suggest a bullish turnaround.