Bitcoin holds near $77,700 as ETF outflows signal fading support at higher levels

Bitcoin traded near the $77,700 mark on Monday as subdued selling and a tougher macroeconomic environment kept the recovery from extending beyond $80,000. The cryptocurrency was last seen trading at $77,732.

Over the past 24 hours, Bitcoin gained 0.3%, while Ethereum fell 0.3% to trade at $2,520. Among major altcoins, BNB, Solana, Tron and Dogecoin declined by less than 1%, while XRP, Hyperliquid and Cardano gained up to 1.3%.

Vikram Subburaj, CEO of Giottus, said US spot Bitcoin ETFs attracted $3.34 billion between August 19 and September 4. That demand helped BTC recover from about $62,000 to $82,000. The immediate risk is the September 16 US Federal Reserve decision.

Subburaj further said investors should avoid high leverage before the Fed decision. Bitcoin’s $76,600 support and the deeper $71,000 level offer clearer reference points for staggered entries.

The global crypto market capitalisation was up 0.4% to $2.71 trillion, according to Coingecko.

Over the last week, Bitcoin was down 2.7% and Ethereum was up 0.4%. Among the major altcoins, BNB, XRP, Solana, Hyperliquid, Dogecoin, and Cardano corrected upto were up 7.9% whereas Tron was up 0.6%.