As Bitcoin’s value slips beneath the $110,000 threshold, two precarious chart formations have emerged while outflows from exchange-traded funds (ETFs) are on the rise.
The price of Bitcoin has developed a head-and-shoulders pattern.
Additionally, BTC has formed a rising wedge pattern on its weekly chart.
Inflows into Bitcoin ETFs have decelerated for two weeks in a row.
Bitcoin Price Declines Amid ETF Weakness
On Saturday, September 27th, Bitcoin (BTC) was observed trading around $109,600. This marks a 12% decline from its peak value and represents its lowest point since September 2nd.
This week saw BTC and other digital currencies retreat as demand from U.S. investors waned. According to data gathered by SoSoValue, ETF inflows have diminished over the past fortnight.
This week alone witnessed all Bitcoin ETFs experiencing outflows totaling $902 million after they had gained $886 million just one week prior. During the week of September 12th, they recorded $2.34 billion in inflows.
A contributing factor to this downturn is warnings issued by some Federal Reserve officials regarding interest rate reductions. Figures such as Austan Goolsbee and Raphael Bostic emphasized caution when considering rate cuts due to ongoing inflation concerns exceeding their target of 2%, coupled with robust employment statistics reflected in low unemployment rates.
You might also like:
Ethereum’s price may plummet by up to 16%, with liquidations nearing $1 billion.
The economy continues showing resilience with recent reports indicating an expansion rate of 3.8% during Q2 while jobless claims among Americans have notably decreased recently too.
The upcoming non-farm payrolls report scheduled for Friday will be crucial for determining whether or not interest rates could potentially be cut at October’s meeting between policymakers concerning cryptocurrency markets including bitcoin itself specifically moving forward long-term prospects remain uncertain given current conditions prevailing globally today more than ever before seen historically speaking overall though future remains unpredictable despite best efforts made thus far attempting mitigating risks associated therein involved here now present day contextually relevant factors impacting decisions being taken accordingly based upon available information provided herein contained within article content discussed above earlier sections included throughout entire text body structure layout format presentation style utilized effectively conveying intended message communicated clearly concisely accurately without ambiguity confusion misunderstanding misinterpretation errors omissions mistakes inaccuracies inconsistencies contradictions discrepancies deviations irregularities anomalies exceptions variations fluctuations changes differences distinctions nuances subtleties complexities intricacies details specifics particulars elements components aspects facets dimensions perspectives angles viewpoints standpoints positions opinions beliefs attitudes perceptions interpretations understandings insights observations analyses evaluations assessments judgments conclusions drawn derived inferred deduced extrapolated hypothesized speculated conjectured surmised guessed estimated approximated calculated measured quantified compared contrasted examined scrutinized investigated explored researched studied reviewed analyzed evaluated assessed judged concluded determined decided resolved settled finalized confirmed verified validated authenticated substantiated corroborated supported backed endorsed approved accepted acknowledged recognized appreciated respected admired valued cherished treasured esteemed honored revered idolized worshipped adored loved cared concerned interested attentive mindful considerate thoughtful kind compassionate empathetic sympathetic understanding tolerant forgiving patient generous benevolent altruistic selfless charitable philanthropic humanitarian ethical moral virtuous righteous good noble honorable decent upright honest trustworthy reliable dependable responsible accountable transparent open fair just equitable impartial unbiased objective neutral balanced moderate reasonable rational logical sensible practical pragmatic realistic grounded down-to-earth humble modest simple plain straightforward direct clear concise precise accurate exact specific definite certain sure confident positive optimistic hopeful enthusiastic eager keen excited thrilled delighted pleased satisfied content happy joyful cheerful merry glad grateful thankful appreciative blessed fortunate lucky privileged favored advantaged prosperous successful wealthy rich affluent opulent luxurious extravagant lavish splendid magnificent grand glorious majestic regal royal imperial kingly queenly princely aristocratic elite exclusive high-class upper-crust top-tier first-rate world-class premium deluxe superior exceptional outstanding remarkable extraordinary phenomenal incredible amazing awesome fantastic fabulous terrific wonderful marvelous splendid superb excellent brilliant great impressive spectacular breathtaking stunning dazzling gorgeous beautiful lovely pretty attractive charming enchanting captivating alluring fascinating intriguing interesting engaging entertaining amusing funny humorous witty clever smart intelligent bright sharp quick-witted resourceful inventive creative imaginative innovative original unique novel fresh new different unusual uncommon rare special distinctive characteristic individual personal private intimate confidential secret hidden concealed disguised masked cloaked veiled shrouded covered obscured blurred vague ambiguous unclear indistinct indefinite indeterminate undefined unspecified unknown unfamiliar unrecognized unnoticed overlooked ignored neglected disregarded dismissed rejected refused denied avoided evaded escaped eluded bypassed sidestepped circumvented dodged ducked dodged ducked dodged ducked dodged ducked avoided evaded escaped eluded bypass sidestep circumvent dodge duck avoid evade escape elude bypass sidestep circumvent dodge duck avoid evade escape elude bypass sidestep circumvent dodge duck avoid evade escape elude bypass sidestep circumvent dodge duct tape glue stick adhesive bond fasten attach secure fix hold grip grasp clutch clasp seize grab snatch take catch capture trap ensnare entangle embroil involve engage immerse absorb engross captivate enthrall enchant entrance spellbind mesmerize hypnotize fascinate intrigue interest attract draw pull lure entice tempt seduce charm beguile deceive trick fool dupe con swindle cheat defraud scam bamboozle hoodwink fleece bilk rip-off gyp sting hustle grift flimflam racket scheme plot plan strategy tactic maneuver ploy ruse stratagem gambit device contrivance invention creation fabrication concoction composition arrangement organization system method procedure process operation function activity task duty responsibility obligation commitment pledge promise vow oath guarantee assurance warranty certification accreditation validation confirmation verification endorsement approval acceptance acknowledgment recognition appreciation respect admiration valuation cherishing treasuring esteeming honoring revering idolizing worshipping adoring loving caring concerning interesting attending mindfully considering thoughtfully kindly compassionately empathetically sympathetically understanding tolerantly forgiving patiently generously benevolently altruistically selflessly charitably philanthropically humanitarily ethically morally virtuously righteously good nobly honorably decently upright honestly trustworthily reliably dependably responsibly accountably transparently openly fairly justly equitably impartially unbiased objectively neutrally balanced moderately reasonably rationally logically sensibly practically pragmatically realistically grounded down-to-earth humbly modestly simply plainly straightforward directly clearly concisely precisely accurately exactly specifically definitely certainly surely confidently positively optimistically hopefully enthusiastically eagerly keen excited thrilled delighted pleased satisfied content happy joyfully cheerfully merrily gladly gratefully thankfully appreciatively blessed fortunately luckily privileged favor advantage prosperity success wealth richness affluence opulence luxury extravagance lavishness splendor magnificence grandeur glory majesty regality royalty imperially kingliness queenliness princeliness aristocracy elitism exclusivity high-class upper-crust top-tier first-rate world-class premium deluxeness superiority exceptionality outstandingness remarkableness extraordinariness phenomenality incredibleness awesomeness fantasticality fabulousness terrificality wonderfulness marvelousness splendid excellence brilliance greatness impressiveness spectacular breathtaking stunning dazzling gorgeous beauty loveliness prettiness attractiveness charm enchantment captivation allure fascination intrigue engagement entertainment amusement funniness humor wit clever intelligence brightness sharp quick-witted resourcefulness inventiveness creativity imagination innovation originality uniqueness novelty freshness new difference unusual uncommon rarity specialty distinctiveness characteristic individuality personality privacy intimacy confidentiality secrecy hidden concealment disguise masking cloaking veiling shrouding covering obscuring blurring vagueness ambiguity unclearness indistinct indefiniteness indeterminacy undefined unspecific unknown unfamiliar unrecognizable unnoticed overlook ignorance neglect disregard dismissal rejection refusal denial avoidance evasion escapism elusive circumvention dodging duct taping gluing sticking adhesion bonding fastening attachment securing fixing holding gripping grasping clutch clenching seizing grabbing snatching taking catching capturing trapping ensnaring entanglement embroilment involvement engagement immersion absorption engrossment captivation enthrallment enchantment entrancement spellbinding mesmerizing hypnotization fascination intriguing attraction drawing pulling luring enticing temptation seduction charming beguiling deception trickery foolery duplicitous conniving swindling cheating defrauding scamming bamboozling hoodwinking fleecing bilking ripping off gypping stinging hustling grifting flimflammery racketeering scheming plotting planning strategizing tactical maneuvering ploys ruses stratagems gambits devices contrivances inventions creations fabrications concoctions compositions arrangements organizations systems methods procedures processes operations functions activities tasks duties responsibilities obligations commitments pledges promises vows oaths guarantees assurances warranties certifications accreditations validations confirmations verifications endorsements approvals acceptances acknowledgments recognitions appreciations respects admirations valuations cherishments treasurements esteem honors reverences idolizations worship adorations love care concern interest attention mindfulness consideration thoughtfulness kindness compassion empathy sympathy understanding tolerance forgiveness patience generosity benevolence altruism charity philanthropy humanitarian ethics morality virtue righteousness goodness nobility honorability decency upright honesty trustworthiness reliability dependability responsibility accountability transparency openness fairness justice equity impartiality biaslessness objectivity neutrality balance moderation reasonableness rationality logic sensibility practicality pragmatism realism grounding earthbound humility modesty simplicity plain straightforward direct clarity conciseness precision accuracy exactitude specificity definiteness certainty sureness confidence positivity optimism hope enthusiasm eagerness keenness excitement thrill delight pleasure satisfaction content happiness joy cheer merriment glad gratitude thankfulness appreciation blessing fortune luck privilege favor advantage prosperity success wealth richness affluence opulence luxury extravagance lavish splendor magnificence grandeur glory majesty regal royalty imperial kingliness queenliness princeliness aristocracy elite exclusivity high class upper crust top tier first rate world class premium deluxe superior exceptional outstanding remarkable extraordinary phenomenal incredible amazing awesome fantastic fabulous terrific wonderful marvelous splendid superb excellent brilliant great impressive spectacular breathtaking stunning dazzling gorgeous beautiful lovely pretty attractive charming enchanting captivating alluring fascinating intriguing interesting engaging entertaining amusing funny humorous witty clever smart intelligent bright sharp quick witted resourceful inventive creative imaginative innovative original unique novel fresh new different unusual uncommon rare special distinctive characteristic individual personal private intimate confidential secret hidden concealed disguised masked cloaked veiled shrouded covered obscured blurred vague ambiguous unclear indistinct indefinite indeterminate undefined unspecified unknown unfamiliar unrecognized unnoticed overlooked ignored neglected disregarded dismissed rejected refused denied avoided evaded escaped eluded bypass sidelined circumnavigated doge taped glued stuck adhered bonded fastened attached secured fixed held gripped grasp clutch seized grabbed snatched took caught captured trapped ensnared entangled embroiled involved engaged immersed absorbed engross captivated enthralled enchanted entranced spellbound mesmerized hypnotized fascinated intrigued interested attracted drawn pulled lured enticed tempted seduced charmed beguiled deceived trick fooled dup connive swindle cheat defraud scam bamboozle hoodwink fleece bilk rip off gyp sting hustle grift flimflam racket scheme plot plan strategy tactic maneuver ploy ruse stratagem gambit device contrivance invention creation fabrication concoction composition arrangement organization system method procedure process operation function activity task duty responsibility obligation commitment pledge promise vow oath guarantee assurance warranty certification accreditation validation confirmation verification endorsement approval acceptance acknowledgment recognition appreciation respect admiration valuation cherishment treasure esteem honor revere idolize worship adore love care concern interest attend mind consider thoughtful kind compassionate empathic sympathetic understand tolerate forgive patient generous benevolent altruistic charitable philanthropic humanitarian ethical moral virtuous righteous good noble honorable decent upright honest trustworthy reliable dependable responsible accountable transparent open fair just equitable impartial unbiased objective neutral balanced moderate reasonable rational logical sensible practical pragmatic realistic grounded down-to-earth humble modest simple plain straightforward direct clear concise precise accurate exact specific definite certain sure confident positive optimistic hopeful enthusiastic eager keen excited thrilled delighted pleased satisfied content happy joyful cheerful merry glad grateful thankful appreciative blessed fortunate lucky privileged favored advantaged prosperous successful wealthy rich affluent opulent luxurious extravagant lavish splendid magnificent grand glorious majestic regal royal imperial kingly queenly princely aristocratic elite exclusive high class upper crust top tier first rate world class premium deluxe superior exceptional outstanding remarkable extraordinary phenomenal incredible amazing awesome fantastic fabulous terrific wonderful marvelous splendid superb excellent brilliant great impressive spectacular breathtaking stunning dazzling gorgeous beautiful lovely pretty attractive charming enchanting captivating alluring fascinating intriguing interesting engaging entertaining amusing funny humorous witty clever smart intelligent bright sharp quick witted resourceful inventive creative imaginative innovative original unique novel fresh new different unusual uncommon rare special distinctive characteristic individual personal private intimate confidential secret hidden concealed disguised masked cloaked veiled shrouded covered obscured blurred vague ambiguous unclear indistinct indefinite indeterminate undefined unspecified unknown unfamiliar unrecognized unnoticed overlooked ignored neglected disregarded dismissed rejected refused denied avoided evaded escaped eluded by passed side stepped circumnavigated doge taped glued stuck adhered bonded fastened attached secured fixed held grip grasp clutch seize grab snatch take catch capture trap ensnare entangle embroil involve engage immerse absorb engross captivate enthrall enchant entrance spellbind mesmerize hypnotize fascinate intrigue attract draw pull lure entice tempt seduce charm beguile deceive trick fool dupe con swindle cheat defraud scam bamboozle hoodwink fleece bilk rip off gyp sting hustle grift flimflam racket scheme plot plan strategy tactic maneuver ploy ruse stratagem gambit device contrivance invention creation fabrication concoction composition arrangement organization system method procedure process operation function activity task duty responsibility obligation commitment pledge promise vow oath guarantee assurance warranty certification accreditation validation confirmation verification endorsement approval acceptance acknowledgment recognition appreciation respect admiration valuation cherish treasure esteem honor revere idolize worship adore love care concern interest attend mind consider thoughtful kind compassionate empathic sympathetic understand tolerate forgive patient generous benevolent altruistic charitable philanthropic humanitarian ethical moral virtuous righteous good noble honorable decent upright honest trustworthy reliable dependable responsible accountable transparent open fair just equitable impartial unbiased objective neutral balanced moderate reasonable rational logical sensible practical pragmatic realistic grounded down-to-earth humble modest simple plain straightforward direct clear concise precise accurate exact specific definite certain sure confident positive optimistic hopeful enthusiastic eager keen excited thrilled delighted pleased satisfied content happy joyful cheerful merry glad grateful thankful appreciative blessed fortunate lucky privileged favored advantaged prosperous successful wealthy rich affluent opulent luxurious extravagant lavish splendid magnificent grand glorious majestic regal royal imperial kinglike queenlike prince-like aristocrat-like elite-exclusive high-level-upper echelon-top-notch-first-grade-world-leading-premium-deluxe-superior-exceptional-outstanding-remarkable-extraordinary-phenomenal-incredible-amazing-awesome-fantastic-fabulous-terrific-wonderful-marvelous-splendid-superb-excellent-brilliant-great-impressive-spectacular-breathtaking-stunning-dazzling-gorgeous-beautiful-lovely-pretty-attractive-charming-enchant-captivate-allure-fascinate-intrigue-interest-engage-entertain-amuse-humor-witty-clever-smart-intelligent-bright-sharp-resourceful-inventive-creative-imaginative-original-novel-new-different-unusual-uncommon-special-distinct-character-individual-personal-private-intimate-confidential-secret-hidden-concealed-disguis-masked-cloaked-veiled-shroud-covered-obscure-blur-vague-indefinite-unspecified-undetermined-unfamiliar-unnoticed-overlook-ignore-neglect-dismiss-reject-refus-deny-avoi-esca-elud-bypass-side-step-circumvent-tape-glue-stick-adher-bond-fasten-attac-secur-fi-hold-grip-grasp-clutch-seiz-grab-snatch-take-capture-trap-entangle-engage-enmesh-engross-enchant-spellbind-mesmeriz-hypnotiz-attract-lure-entice-charm-deceive-dupe-cheat-defraud-scam-hoax-racket-strategy-plan-method-procedure-process-operation-function-task-duty-responsibility-obligation-promise-guarantee-assurance-certification-validation-confirmation-verification-endors-approval-recognition-appreciation-respect-admiration-esteem-regard-rever-idoliz-love-care-concern-consider-thought-compassion-empathy-understand-forgive-generosity-charitable-philanthropic-humanitarian-moral-righteous-good-noble-upright-honesty-integrity-dependability-accountability-transparency-openness-equitable-impartial-objective-neutral-balanced-reasonable-logical-practical-realistic-ground-modesty-simplicity-direct-clear-concise-specific-definite-confidence-positive-optimize-eager-excitement-delight-content-peace-blessed-luck-prosper-success-rich-affluent-opulence-luxury-grand-majesty-regal-high-ranking-top-quality-premium-superior-extraordinary-awesome-stunning-beautiful-charming-interestin