Bitcoin stuck as ETF inflows offset selling, but inflation data could spark a move
Weeks of sideways trading have crushed volatility, leaving Wednesday’s inflation report as the next potential catalyst, analysts said.
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Summary
- Bitcoin has been stuck in a narrow trading range of about $62,000 to $66,000 for weeks as steady ETF buying is largely offset by selling from miners and corporate holders such as MicroStrategy.
- Trading volumes and implied volatility have slumped to multiyear lows, leaving the market with limited momentum and positioning that suggests investors are well hedged rather than betting on a sharp move.
- Wednesday’s U.S. CPI report and potential regulatory progress on the Clarity Act are seen as key catalysts that could break bitcoin’s stalemate, though seasonality data show September has historically been a weak month for the cryptocurrency.
