Bitcoin (BTC), the largest cryptocurrency, is taking a breath before the next phase of its rally. While all major metrics are stagnating, some macro indicators hint at a possible 50% upside for the crypto king’s price.

Bitcoin (BTC) price brutally rejected at $113,000

Bitcoin (BTC), the first cryptocurrency, failed to expand its rally to over $113,000. Yesterday, Sept. 5, 2025, its price jumped by 2%, but was stopped by bears. Immediately after touching the resistance level, it dropped back to $110,300.

At press time, Bitcoin’s (BTC) price has stabilized at around $110,900 on major spot trading platforms. In the last 24 hours, Bitcoin (BTC) is up by a negligible 0.24%.

The rest of the cryptocurrency market is also stagnant today. The aggregated capitalization of digital assets added 0.19% and hit $3.81 trillion in equivalent.

The cryptocurrency’s Fear and Greed Index dropped to 48/100, which is considered to be a “Neutral” indicator. As per CoinMarketCap, the cryptocurrency’s RSI sits at 48.46, which also signals about the market being at a crossroads.

In the last 24 hours, the cryptocurrency’s liquidations were below $100 million, which is an indicator of market apathy.

Spot Bitcoin ETFs log $400 million in outflows in two days

Exchange-traded products on spot Bitcoin (BTC) are witnessing outflows in recent sessions. On Sept. 4-5, U.S. BTC ETFs lost almost $400 million in equivalent.

On Sept. 4, 2025, $227 million was withdrawn by investors, followed by $160 million erased the next day. As a result, the aggregated spot Bitcoin ETFs AUM dropped to $144.5 billion.

BlackRock’s IBIT, Grayscale’s GBTC and Bitwise’s BITB are the three most affected ETFs; combined, they lost about $150 million in just one session.

As covered by U.Today previously, spot Bitcoin ETFs have been losing traction since early July 2025. Investors’ pessimism might be a signal of liquidity migration to alternative TradFi products, precious metals and stocks.

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At the same time, Ethereum spot ETFs were hit even harder last week. In seven days, spot Ether ETFs lost over $787 million in AUM, which makes this week the most painful for the segment ever.

Since Ethereum spot ETFs were launched in July 2024, its ecosystem has not been hit by such a massive liquidity outflow.

Bitcoin OI stuck in $79-$85 billion corridor for seven weeks

At the same time, this might be just a rebalance since spot ETH ETFs investors injected $2.8 billion in liquidity during the second week of August.

Meanwhile, Bitcoin’s open interest — the total USD-denominated value of all derivatives contracts that are not closed yet — has been stagnating since July.

As of printing time, the aggregated Bitcoin futures OI sits slightly below $80 billion in equivalent. In the last couple of weeks, it has remained almost unchanged. After reaching its peak at $88 billion on July 16, 2025, it started slowly declining.

Binance (BNB), the largest cryptocurrency exchange by trading volume and user count, is responsible for $14 billion out of this value.

For Ethereum futures, the net open interest has been sitting at $60 billion in equivalent for three weeks in a row. As such, markets might be confused about performance prospects for both assets.

Bitcoin (BTC) to $185,000? Here’s what Tephra Digital BTC/M2 model says

Despite sending mixed signals to its audience, Bitcoin (BTC) can still expand its rally over $150,000 per BTC easily. As a recent model by Tephra Digital asset management firm demonstrates, Bitcoin (BTC) closely follows the M2 metric — the aggregated volume of the U.S. money supply.

The analyst noticed that Bitcoin (BTC) follows M2 and gold price fluctuations with the lag of 100-200 days. Given that fact, the global cryptocurrency community should be prepared for an extremely bullish Q4, 2025.

Based on these assumptions, Bitcoin’s (BTC) price can naturally reach $167,000-$185,000 by the end of this year.

Bitcoin’s (BTC) price set its current ATH at $124,457 on Aug. 14, 2025. As of now, it is trading 11% below the record price.

Ethereum’s rally was just 1.94% below its November 2021 history high of $4,878 before sellers forced a pullback. Currently, Eth USD is trading nearly $4,450 and has retreated after a +29% rise in the last 30 days.

The inability to break through resistance underscores the technical overhang that continues to hold back the upward momentum despite the institutional flow continuing to be the dominant driver of short-term performance.

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The ETF inflow was crushed eight days later after a $3.7 billion win streak – is there an ETH USD leak here?

The rejection coincided with the first net leak from a US spot ether ETF in nine trading sessions.

Farside data shows $59.3 million left the product on Friday, ending an eight-day streak that raised $3.7 billion in BlackRock’s Eta, Fidelity’s Festival and Grayscale’s Ethereum Mini Trust.

(sauce)

Since its launch in July 2024, Spot Ether ETF has raised $12.688 billion in cumulative flows, but the end of the inflow streak introduces new data points for traders considering rally durability. https://cointelegraph.com/news/ether-etf-ustflow-day-inflow-streak-billions-mions-price predictions

ETF flow has become one of the most reliable proxies in ETH for facility positioning. Analysts note that sustained influx is important to tackle the $4,878 ATH ceiling.

Standard Chartered raised its year-end ETH target to $7,500 this week. This is subject to continued strong net ETF demand.

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USD sentiment in reversal of Sharplink loss compounds

https://www.youtube.com/watch?v=uw7qaka7nls

Flow inversion is the shadow of the weak revenue prints of Sharplink Gaming, the second largest Ethereum digital asset financing company.

The company reported a net loss of $133.4 million in the second quarter, causing the stock market to panic, causing a -15% decline in stock.

The approximately $87.8 million hit was marked at a quarterly low price of $2,300 from the non-cash damage fees associated with liquid-stained ETH.

Sharplink’s 728,804 ETH Holdings is now worth more than $3.3 billion, but accounting amplified headline losses and more broadly suppressed sentiment around the Ethereum Treasury.

The confluence of failed breakouts, ETF spills, and sudden paper losses of major financial owners reinforces the importance of institutional demand and accounting in setting up the narrative of near ETH USD, rather than retail markets.

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Ethereum ETFS vs. Treasury accumulation: What drives ETH USD prices?

The ETF reversal highlights the vulnerability of momentum when vehicles within the facility suspend purchases.

But under the surface, the corporate Ethereum Treasury accumulation remains a strong counterweight.

The $103 million loss in Sharplink headline obscured the 728,804 ETH position, now worth $3.3 billion, has been steadily worsened by stakeholder rewards.

With its current yield of 3.4%, Sharplink has already booked more than 1,300 ETH this year with rewards, an organic influx that mitigates the valuation shock.

Other treasury companies have quietly expanded their exposure with BTCS Inc. and Defi Development Corp. adding reserves in the second quarter.

The block estimates that public companies holding ETH have a cumulative market capitalization of more than $10 billion, marking Ethereum’s arrival as a financial asset class in itself.

This is structurally important. ETF demand is flow-driven and responsive to emotions, but Treasury allocations are sticky, repeated, and often tied to behavioral models on Defi infrastructure, games, or tokenized yield platforms.

While ETF outflows highlight short-term sentiments, parallel growth in the Treasury balance sheet shows a strategic layer of demand that is not sensitive to everyday price fluctuations

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ETH USD price analysis: Where does Ethereum prices go from here?

As ETHD is reeling out of rejection of the ATH resistance, Ethereum is currently trading at a market price of $4,397 (representing a 24-hour change of -0.95%).

After losing more scaffolding around $4,490, it appears ETH USD price action will likely test historic support low at a price level of $4,115.

(ethusd)

To bolster this case, the steadily rising 20DMA appears to be intended to converge with this low level of support in the coming days. In particular, 20DMA support has not been tested by ETH USD for 10 days. In other words, there was no moving average support for ETF influx over the past 8 days.

Successful integration at this level appears likely to trigger a second retest of the ATH resistor this week. After all, prices are rarely rejected entirely from the initial resistance test.

Such a move is enhanced by confidence from a decrease in RSI. The RSI has been overheating with strong bear signals for several days.

ETH USD could be caught with established support of about $3,750 if a failure occurs.

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The transaction will not be cancelled and there will be no refunds. However, senders don’t have to wait for anything to happen, at least in theory, before trying to use their money in a different way.

When a user broadcasts a transaction, it represents an attempt to move the coins involved. Once that transaction is confirmed, everyone will agree that it happened. But before we confirm, it’s a matter of perspective. Usually, the sender wallet deals with coins as soon as a transaction is created, but as far as blockchain is concerned, they still reside in the sender wallet.

This protocol does not prevent the sender from creating another transaction that uses the same coin. Therefore, it inevitably competes with the first coin (via a principle called Alternate Buy (RBF)). Some wallets allow RBFs only to increase the fees for transactions that are too slow, but some wallets allow users to “waive” non-confident transactions in situations where they allow them to spend their funds in different ways, in some circumstances.

In short, there is no refund. Because as far as networks are concerned, non-traditional transactions simply aren’t. It happened. It’s a question of how to deal with it for the sender’s wallet.

Yesterday, Bitcoin (BTC) once again faced rejection around the $120,000 resistance level after briefly reaching a high of $119,760. At the time of writing, the top cryptocurrency is trading slightly lower at $118,900. However, a sharp increase in whale inflows to Binance threatens to trigger further downside pressure for the digital asset.

Binance Whales Ramp Up Bitcoin Deposits

According to a recent CryptoQuant Quicktake post by contributor BorisVest, Bitcoin whale activity on Binance has increased significantly in recent days. In particular, the Binance Whale Inflow metric recorded a notable spike on July 25, signalling rising institutional participation in exchange deposits.

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On that day alone, the 30-day cumulative inflow to Binance surged by $1.2 billion, fuelling short-term selling pressure across the market. Data from CoinGlass shows that between July 24 and July 25, roughly $141 million worth of BTC long positions were liquidated as a result.

It’s worth noting that alongside this spike in whale deposits, retail investors have also been moving their holdings to exchanges. However, their participation remains relatively low in comparison, hinting that recent selling pressure is predominantly whale-driven.

The following chart illustrates that while retail inflows have been trending upward for weeks, the sudden increase in whale deposits has introduced additional fragility into Bitcoin’s price structure. 

The surge in Binance whale inflows came just before Bitcoin was rejected at the critical $120,000 level. Following this rejection, BTC retraced to the $115,000–$116,000 range, which is now acting as short-term support. The analyst noted:

This area is now acting as a short-term support zone. If it fails to hold, a move toward the $110K level becomes increasingly likely. On the other hand, if Bitcoin can bounce strongly from this region, there is still potential to retest $121K and even attempt a new all-time high.

BorisVest concluded that BTC’s near-term price trajectory will be determined by how well the market absorbs whale sell-off. Meanwhile, fellow crypto analyst Titan of Crypto remarked that if BTC decisively breaks through the $119,900 level, then it could eye new all-time highs (ATH).

What Else Does Exchange Data Suggest?

Whale inflows aren’t the only factor spooking investors. BTC reserves on centralized exchanges also recently reached a one-month high, suggesting that some holders may be anticipating a temporary pullback or consolidation phase before resuming the uptrend.

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That said, Binance’s share of BTC spot trading volume recently saw a sharp rise, suggesting that a rally may be on the horizon for the world’s leading cryptocurrency. At press time, BTC trades at $118,926, up 0.4% in the past 24 hours.

Featured image from Unsplash, charts from CryptoQuant, X, and TradingView.com

Bitcoin is facing a crucial test as it struggles to break above key resistance levels while holding just above critical support. The market remains stuck in a tight range, reflecting growing indecisiveness among traders and investors. Uncertainty has become the new normal, with macro conditions and political developments continuing to cloud sentiment.

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US President Donald Trump has added further volatility to the mix, unsettling financial markets with unpredictable policies and newly imposed tariffs. His erratic behavior has only intensified the fragile mood, pushing risk assets like Bitcoin into deeper consolidation.

Despite brief rallies, Bitcoin has once again failed to break above descending resistance, according to crypto analyst Carl Runefelt. This rejection, paired with declining trading volume, is a sign that buyers may be losing strength. Runefelt warns that if volume continues to dry up and BTC remains stuck below key levels, the bearish target of $78,600 remains a strong possibility.

While bulls are defending support zones for now, the lack of momentum is raising red flags. Unless Bitcoin can reclaim higher ground soon, the odds of a deeper correction will continue to grow — making the coming days crucial for determining the market’s next direction.

Bitcoin Down 25% from January ATH As Bears Tighten Grip

Bitcoin is now down 25% from its January all-time high, and bulls are struggling to regain control. After repeated attempts to reverse the trend, BTC continues to hold above the $81,000 level — a key support zone — but has failed to reclaim the $86,000 mark, which is necessary to confirm any serious recovery. The inability to push higher has weakened market confidence, and bulls now find themselves in a difficult position.

Macroeconomic uncertainty and fears surrounding escalating trade wars, especially under U.S. President Donald Trump’s unpredictable policies, have added to market volatility. These factors continue to favor the bears, and the pressure on high-risk assets like Bitcoin remains intense. With broader financial markets under stress, bullish sentiment in the crypto space is fading quickly.

Panic is beginning to set in for some investors as selling pressure shows no sign of slowing. However, there’s still a sliver of optimism among market watchers who believe that a bounce could follow once key resistance levels are reclaimed.

Runefelt recently shared insights pointing to BTC’s failure to break above descending resistance — a bearish sign. He also noted that trading volume continues to decline, a sign that market participation is thinning out. This lack of volume often precedes large moves, and in this case, the bearish target of $78,600 remains firmly on the table if bulls fail to reclaim momentum.

For now, the market remains on edge. Bitcoin’s ability to hold above $81K and attempt a move past $86K will be critical in determining whether a recovery is possible — or if the next leg down is about to begin.

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Technical Details: Key Levels To Hold

Bitcoin is currently trading at $83,500 after several days of choppy, volatile price action that has left traders uncertain about the market’s next direction. The recent swings between key levels have highlighted the indecision among both bulls and bears, with neither side able to take full control. For bulls, the immediate challenge is to reclaim the $85,000 level, which aligns with the 4-hour 200-day moving average (MA). A successful move above this mark would be an encouraging signal of short-term strength.

Beyond that, the next key level is $86,000, which is where the 4-hour exponential moving average (EMA) sits. Reclaiming this zone would help shift momentum back in favor of the bulls and potentially set the stage for a recovery attempt toward $90,000.

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However, the most critical level in the short term is support at $81,000. This price zone has acted as a strong floor in recent weeks, and losing it would likely trigger further downside pressure. As macro uncertainty and market-wide volatility continue, bulls must defend this support while working to reclaim the MAs above. The coming sessions will be crucial in defining whether Bitcoin can recover—or slide deeper into correction territory.

Featured image from Dall-E, chart from TradingView