The bitcoin rally is clearly starting to lose some of its luster. The products linked to it are already suffering the repercussions. After a nice series of entries, the machine got a little stuck. We are now wondering if this is just a pause or the start of a real slowdown.
In brief
- Bitcoin ETFs saw $201.8 million in net outflows on August 28, ending a nine-day streak of inflows that had drained more than $3 billion.
- ARKB concentrated most of the withdrawals with $114.9 million, followed by BITB and IBIT, while Morgan Stanley was an exception.
- Ethereum ETFs continued their streak with a twelfth day of inflows and $102.2 million, while Solana ETFs crossed the $1 billion cumulative mark.
- Bitcoin has been pushed back below $81,000, the area where a significant part of the supply is concentrated, and is now testing supports around $77,500.
The steamroller of bitcoin ETFs stops abruptly
On August 28, 2026, the nine-day streak of consecutive entries into bitcoin ETFs ended. Net outflows reached $201.8 million. ARKB had the largest share with 114.9 million. BITB followed with 49.7 million and IBIT with 33.4 million. Morgan Stanley was a bit of an exception, recording 9.3 million entries.
The previous series still generated more than 3 billion dollars. The peak was 606 million on August 20. Despite everything, August remains the strongest month of 2026 for these products, with 3.3 billion net admissions.
Total assets fell to 97.6 billion after briefly exceeding 100 billion. The price of bitcoin slipped from $81,000 to $77,500. Analyst afsheenjaf summarized the situation quite clearly:
Bitcoin has just lost support that no one was monitoring. For what ? Because 6.4 billion in options expired this morning.
This halt comes just after a failed test of the $81,000 zone.
Ethereum and Solana ETFs take over
While bitcoin stalled, other corners of the crypto-sphere continued to attract money. Ethereum ETFs recorded their twelfth consecutive day of inflows, with $102.2 million on August 28. XRP ETFs added 26.2 million.
Solana ETFs reached $1.7 billion in cumulative flows. The Bitwise Solana ETF even became the first fund in its category to cross the billion dollar mark. Eric Balchunas, analyst at Bloomberg, found the performance “impressive” despite a first half that he describes as a “nightmare downturn”.
Ether also did better than bitcoin over the week, with an increase of 31.3% compared to 23.6% for BTC. This divergence is a bit puzzling. Are investors really turning to altcoins? Or is it just a time gap?
For now, the rotation seems real. It could continue if bitcoin remains stuck below $80,000.
The $80,000 wall still blocks bitcoin
The technical resistance is there. Glassnode shows that 8% of the bitcoin supply was purchased between $80,000 and $82,000. About 5% is concentrated precisely around $80,000. The 50-week moving average stands at $81,081. BTC tested this level on August 28 before being pushed back. The Bitfinex analyst team described the move as “ a squeeze that came up against a defined population of sellers »
The expiration of $6.4 billion in options removed some of the forced buying around $80,000. Analyst Afsheenjaf anticipates a possible “shakeout” before the sequel. If bitcoin loses $77,500, the next support is at $75,000.
A clear rebound above $78,500 would, on the contrary, be a rather positive signal for some traders. The weekend therefore promises to be quite important for the future.
Will the flows resume after the weekend?
THE August 28 releases represent only 6.6% of the 3 billion accumulated during the nine-day series. Several analysts see it more as profit-taking than a real disengagement of institutions. What happens next will depend a lot on the next macroeconomic data.
The jobs report and CPI will arrive before the September 16 meeting. Bloomberg Chief Economist Anna Wong anticipates potentially low or even negative figures. ETFs still hold over a million bitcoins. This stock remains a sign of longer-term conviction.
If bitcoin remains stuck below $80,000, the rotation into other cryptocurrencies could continue. The question remains open. Will the market consolidate before starting again, or embark on a more marked correction? The coming days should provide some answers.
Key figures to watch
- BTC price at time of writing: $77,709
- Net outflow from bitcoin ETFs on August 28: 201.8 million
- Duration of broken entry series: 9 days
- Next major technical support: $75,000
- August net inflows for bitcoin ETFs: 3.3 billion
Recent events are pushing crypto traders to look a little further. Understanding and trading the gold-dollar pair becomes interesting in this context of fiscal tensions. Markets move quickly. Strategies must follow.
Maximize your Tremplin.io experience with our ‘Read to Earn’ program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
