The strong August performance did not continue into the opening days of September. US spot Bitcoin ETFs recorded $236.46 million in net outflows on Tuesday after receiving $216.70 million one day earlier.
At the same time, briefly dropped below $77,000. BTC later recovered above $77,200 after touching a low near $76,391 on September 3.
Prateek Gupta, Head of Business at Mudrex, said a move above $78,000 could improve short-term momentum. He identified $76,400 as an important support level.
Crypto analyst Michaël van de Poppe also pointed to higher price levels, although his projection remains uncertain. He said, “The correction is most likely over, meaning that I expect #Bitcoin to continue to run to $82,700.”
His chart placed resistance near $79,300. Bitcoin would need to move above that area before approaching the $82,700 level discussed by the analyst.