Bitcoin was trading around the $77,700 level on September 3, 2026, after recovering from an intraday low of $76,264. U.S. spot Bitcoin ETF investment vehicles recorded net outflows of $236.46 million in the latest trading session. Amid this wave of heavy withdrawals, reports noted that only one product, Bitwise BITB, posted net inflows.
Trapped in Technical Patterns and Cooling Demand
Current price action remains confined within a falling wedge pattern formed on the 4-hour chart. The upper boundary of this pattern caps prices around $78,000, while the lower boundary restricts movement near the $76,000 level.
CryptoQuant analyst Darkfost noted that apparent demand for Bitcoin turned negative as of September 2. Freshly mined supply and dormant coins being moved are no longer being absorbed by the market at the same pace.
An additional warning came from analyst Rain, who noted that if weakness persists, the $77,000 level could flip its status. What previously served as support risks turning into new resistance. This potential downside aligns with a major liquidation cluster concentrated around the $76,000 mark.
Neutral Signals Clash with Interest Rate Sentiment
Amid the price pressure, several technical indicators still show opportunities for buyers. The Relative Strength Index (RSI) on the 4-hour chart currently sits at 48.66, signaling a neutral position. The Aroon indicator shows buyers still maintain a slight edge, with Aroon Up recorded at 57.14% compared to Aroon Down at 7.14%.
The Chaikin Money Flow indicator confirms buying pressure with a reading of +0.32 on the daily timeframe. However, these on-chart buy signals face immediate headwinds from central bank monetary policy threats.
In prediction markets, the probability of the U.S. central bank raising benchmark interest rates at the upcoming September 16 meeting reached 64%. Sentiment around rate hikes strengthened after Fed Chair Kevin Warsh issued his latest warning regarding inflation data.
The 10-year Treasury yield is currently holding near 4.8%. This yield level makes traditional investment instruments an attractive alternative compared to non-yielding assets like Bitcoin.
Buyer Resilience Tested Amid Outflows
The locked-in price action highlights the current boundaries of the market. With on-chain activity cooling and institutional capital flowing out, buyers face a heavy burden to prevent prices from sliding through lower liquidation levels.
Reported by crypto.news.
Read also: What Is Bitcoin Halving?
Previously: Bitcoin Recovered 22% Last Month - But 3,700 BTC Sell-Off Stalls Bull Market Signals
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
