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Bitcoin trades sideways as ETF inflows offset miner and corporate selling

BTC has been stuck near $63,500 within a roughly $62,000 to $66,000 summer range, while implied volatility has fallen to multiyear lows ahead of Wednesday’s U.S. CPI release.

Reported · Written up by our desk · Market Structure

Bitcoin has remained trapped in a narrow $62,000 to $66,000 trading range for weeks, with steady exchange traded fund buying largely offset by selling from bitcoin miners and corporate holders including MicroStrategy, according to CoinDesk.

CoinDesk reported that trading volumes and implied volatility have slumped to multiyear lows, contributing to limited momentum and positioning that appears more hedged than directional. On Tuesday, Bitcoin slipped to around $63,500, down 0.6% over the prior 24 hours.

CoinDesk also cited analysts pointing to competing sources of demand, noting that ETF and bitcoin treasury demand have provided price insensitive support, while corporate treasury activity has recently added offsetting pressure.

Looking ahead, CoinDesk said Wednesday’s U.S. CPI report is seen as a potential catalyst that could break the stalemate, alongside any progress on the Digital Asset Market Clarity Act. Analysts added that September has historically been a weak month for crypto based on seasonality data.

Latest closeBitcoin $63,674.80 ▼0.4%

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