Over $300 Million Poured into ETFs, But Bitcoin (BTC) and Ethereum (ETH) Rally 'Slows Down'

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Bitcoin (BTC), Ethereum (ETH), and XRP saw their upward momentum slow despite ETF inflows.

According to FXStreet on September 1 (local time), the cryptocurrency market's rally faltered as geopolitical tensions in the Middle East re-emerged. Bitcoin held its $78,000 support level, but lacked momentum for further gains. Ethereum maintained above $2,400, and XRP above $1.35. The sentiment index rose from 62 to 69 the previous day, maintaining the 'greed' zone for investor sentiment.

Institutional funds consistently flowed in, contrary to price movements. Approximately $217 million flowed into Bitcoin spot ETFs on Monday. On the preceding Friday, $202 million exited. The cumulative net inflow is $55 billion, with net assets totaling approximately $100 billion. Ethereum spot ETFs also saw an inflow of $88 million on Monday. XRP spot ETFs recorded net inflows for 10 consecutive trading days, with approximately $6 million flowing in on Monday as well. The cumulative net inflow is $1.66 billion, with net assets totaling approximately $1.45 billion.

Bitcoin maintained its short-term upward structure, but overheating concerns remain. The Relative Strength Index (RSI) neared 70, indicating an imminent overbought zone. The Moving Average Convergence Divergence (MACD) remained in positive territory, but its upward momentum weakened. Below, the 50-day Exponential Moving Average (EMA) at $70,046 and the 100-day line at $69,086 were presented as key support levels. The 200-day line was positioned at $72,351.

Ethereum and XRP also maintained their upward trend but began to moderate their pace. Ethereum's Relative Strength Index (RSI) was around 68, nearing the overbought threshold, and its Moving Average Convergence Divergence (MACD) flattened near the zero line. $2,458 serves as short-term support, with the 200-day line at $2,168, the 50-day line at $2,117, and the 100-day line at $2,047 providing underlying support. XRP has its 200-day line at $1.35 as a key support level. Its Relative Strength Index (RSI) is 61, but the Moving Average Convergence Divergence (MACD) slightly turned negative, indicating weakened upward momentum.

Whether XRP holds $1.35 is crucial for its short-term trend. If that support level breaks, the 50-day and 100-day lines around $1.21 are suggested as the next defense lines. Although Bitcoin and Ethereum continue to see ETF inflows, technical indicators show a slowdown in their upward momentum.

[Article Key Summary]

-Approximately $217 million flowed into Bitcoin spot ETFs, but Bitcoin's rally stalled around $78,000.

-Ethereum spot ETFs received $88 million, and XRP spot ETFs recorded net inflows for 10 consecutive trading days.

-Bitcoin's RSI neared 70, Ethereum's neared 68, and the defense of XRP's $1.35 200-day line was presented as a key variable.

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