ETF inflows plummeted 81%: BTC is under pressure, BTW retreats at a high level

According to Woofun AI, the total market capitalization of the cryptocurrency market recorded 2.84 trillion US dollars, a single-day decline of 0.31%. The core contradiction is that the momentum of new capital inflows has slowed significantly, and market sentiment has turned cautious, waiting for the August inflation data guidelines released on September 30.

The financial side is characterized by cliff-style contraction. The spot Bitcoin ETF (IBIT.US) attracted $998.95 million in inflows on September 21, then gradually declined: $7147.5 million on September 22, fell to $346.98 million on September 23, and only $190.65 million left on September 24. The inflow volume plummeted 81% in just three days.

According to data compiled by Woofun AI, the stablecoin supply according to DeFilLama's statistics is US$312.3 billion, which is US$8.6 billion lower than the peak on May 17; this figure bottomed out to US$305.2 billion on August 3. Although this week's increase of 0.9% was the fastest weekly increase since the beginning of May, due to the slump in weekend trading volume, buyers' reserves to cope with selling pressure are still limited.

Technically, the market needs to stay at the $2.79 trillion support level. If stabilized, it is expected to impact the $2.89 trillion target and the $2.95 trillion target that was blocked on September 23. The performance of the micro target Bitway (BTW) was divided, falling about 14% within 24 hours, and the stock price was close to $0.92, clearly falling back from the previous record high of $1.09.

Although the rise since August 8 constituted a “flagpole” in the bullish flag and low sales volume supported the $0.894 price level, buying volume continued to shrink since the end of August, and the weakening trading volume caused the rebound to be weak.

Analysts pointed out that although fund purchasing power remains strong, it is weakening day by day. Before the inflation data is released on September 30, if the daily closing price remains above $2.89 trillion, it indicates the return of buyers; conversely, once it falls below the $2.79 trillion mark, the market will face a greater downside risk.