Bitcoin Struggles to Maintain Momentum Amid US Demand Fluctuations

Bitcoin has faced challenges in sustaining its recent rally, struggling to break above the $80,000 mark as demand from US investors remains inconsistent. Despite a surge in inflows into US-listed spot Bitcoin exchange-traded funds (ETFs) in August, the market has seen significant outflows in recent days, raising concerns about the strength of the current price movement.

The seven-day average of the Coinbase premium, which measures the price difference between the US and international exchanges, has been negative for over four months, indicating weak demand in the US market. Glassnode reported that while ETF inflows reached an average of $290 million per day during the rally, trading activity has not matched the levels seen in previous bull markets, suggesting a lack of sustained buying interest.

Compounding these issues, macroeconomic conditions are shifting. A recent speech by US Federal Reserve Chairman Kevin Warsh at the Jackson Hole symposium has heightened expectations of potential interest rate hikes aimed at controlling inflation. The Federal Open Market Committee is set to meet on September 15 and 16, which could further impact market sentiment.

Currently, Bitcoin is trading around $77,700, with analysts noting that a significant portion of the August rally may have been driven by short covering. Glassnode estimates that long-term holders are eyeing the $83,000 to $86,000 range for profit-taking, indicating a potential price ceiling that could limit further gains.

© 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source: KLEA News