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Bitcoin stays stuck between $82,000 and $85,000 as spot ETF flows turn

U.S.-listed spot bitcoin ETFs saw a net outflow of $148.7 million on Wednesday, snapping a nine-day inflows streak that totaled $3.08 billion, data from SoSoValue show.

Reported · Written up by our desk · Market Structure

Bitcoin is still trading in the $82,000 to $85,000 band as it extends more than a week of choppy, sideways price action, according to CoinDesk. The outlet said the market briefly pushed above $85,000 on Wednesday after weaker-than-expected U.S. inflation cooled expectations for further Fed rate hikes, but the move could not be sustained.

CoinDesk also pointed to spot bitcoin ETFs in the United States, noting that they recorded a net outflow of $148.7 million on Wednesday. That ended a nine-day inflows streak that had pulled in $3.08 billion, the report said, citing SoSoValue.

Looking beyond bitcoin, CoinDesk said the broader altcoin performance remained selective, with its CoinDesk DeFi Select Index the only one up 1% over the past 24 hours. It described the situation as the start of a new quarter with bitcoin still in the same $82,000 to $85,000 range.

Latest closeBitcoin $86,547.78 ▲3.6%

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