Bitcoin ETFs Snap their Winning Streak after More than $3 Billion in Inflows
The Bitcoin rally is clearly starting to lose some of its shine. The products linked to it are already feeling the consequences. After a strong series of inflows, the machine has slightly jammed. We now wonder if it’s just a pause or the beginning of a real slowdown.
In brief
- Bitcoin ETFs recorded $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 billion-dollar cumulative mark.
- Bitcoin was pushed below $81,000, an area where a significant share of supply concentrates, and is now testing supports around $77,500.
The Bitcoin ETF buying machine finally stalls
On August 28, 2026, the streak of nine consecutive days of inflows in Bitcoin ETFs ended. Net outflows reached $201.8 million. ARKB accounted for the largest share with $114.9 million. BITB followed with $49.7 million and IBIT with $33.4 million. Morgan Stanley was somewhat of an exception, recording $9.3 million in inflows.
The previous streak had still drained more than $3 billion. The peak was at $606 million on August 20. Nonetheless, August remains the strongest month of 2026 for these products, with $3.3 billion in net inflows.
Total assets fell back to $97.6 billion after briefly exceeding $100 billion. The price of Bitcoin slipped from $81,000 down to around $77,500. Analyst afsheenjaf summarized the situation quite clearly:
Bitcoin just lost the support nobody was watching. Why? 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 crypto ETFs keep attracting money
While Bitcoin stalled, other crypto coins continued to attract money. Ethereum ETFs logged 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 of its category to cross the billion-dollar mark. Eric Balchunas, analyst at Bloomberg, found the performance “impressive” despite a first semester he described as a “nightmare downturn.”
Ether actually outperformed Bitcoin for the week, with a 31.3% increase compared to 23.6% for BTC. This divergence raises some questions. Are investors really turning to altcoins? Or is it just a timing shift?
For now, the rotation seems real. It could continue if Bitcoin remains stuck below $80,000.
The $80,000 wall is still holding Bitcoin back
The technical resistance is indeed present. Glassnode shows that 8% of Bitcoin supply was bought between $80,000 and $82,000. About 5% is concentrated precisely around $80,000. The 50-week moving average sits 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 hit a defined population of sellers.”
The expiration of $6.4 billion in options removed part of the forced buying around $80,000. Analyst afsheenjaf anticipates a possible “shakeout” before the next phase. If Bitcoin loses $77,500, the next support lies at $75,000.
A clear rebound above $78,500 would be a rather positive signal for some traders. The weekend therefore looks quite important for what comes next.
Will the inflows return after the weekend?
The outflows on August 28 represent only 6.6% of the $3 billion accumulated during the nine-day streak. Several analysts see it more as profit-taking rather than a true institutional disengagement. The future will depend heavily on upcoming macroeconomic data.
The employment report and CPI will arrive before the September 16 meeting. Bloomberg Chief Economist Anna Wong anticipates potentially weak or even negative figures. ETFs still hold more than one million bitcoins. This stock remains a sign of longer-term conviction.
If Bitcoin remains stuck below $80,000, the rotation toward other cryptocurrencies could continue. The question remains open. Will the market consolidate before rebounding, or enter a more pronounced correction? The coming days should provide answers.
Key figures to watch
- BTC price at time of writing: $77,709
- Net outflow of Bitcoin ETFs on August 28: $201.8 million
- Duration of the broken inflow streak: 9 days
- Next major technical support: $75,000
- Net inflows in August for Bitcoin ETFs: $3.3 billion
Recent events push crypto traders to look a bit further ahead. Understanding and trading the gold-dollar pair becomes interesting in this context of fiscal tensions. Markets move fast. Strategies must keep up.
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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.