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Bitcoin holds near $78,000 as spot ETF inflows erase leverage losses
Glassnode data cited by CryptoSlate shows US-traded spot Bitcoin ETFs took in $2.23 billion around an initial squeeze, including $314.3 million of inflows on Aug. 25 led by BlackRock’s IBIT.
Bitcoin traded near $78,000 after an Aug. 26 market move that followed the release of July’s PCE inflation data, with the report showing headline inflation at 3.7% and core at 3.3%, both above the Fed’s target, according to CryptoSlate.
After the data, US interest-rate futures increased the probability of a September rate hike to about 44% from roughly 36% before the report, while Bitcoin logged an intraday high of $79,251.60 the same day.
CryptoSlate, citing Glassnode, said US-traded spot Bitcoin ETFs absorbed $2.23 billion around Bitcoin’s initial squeeze, with no single outflow day and the strongest seven-day intake of 2026. Farside Investors data also showed another $314.3 million of inflows on Aug. 25, led by $284.4 million into BlackRock’s IBIT, extending positive inflows from Aug. 17 through Aug. 25 to about $2.6 billion.
The same analysis tied the strength to a deleveraging event and the absence of rapid leverage rebuilding, noting that Aug. 19 produced the largest dollar-denominated single-day short liquidation event in Glassnode’s dataset since 2019 and that about 85% of liquidations came from short positions. CryptoSlate also cited Glassnode’s observation that futures open interest fell 11% in BTC terms through the move, funding stayed near neutral, and stablecoin market capitalization was about $303.7 billion, up $2.8 billion over the past week.
Latest closeBitcoin $83,299.96 ▲0.2%