Bitcoin (BTC) is forming a familiar bottoming pattern, potentially supporting a stronger recovery if key support remains intact. Meanwhile, strong institutional demand for spot Bitcoin ETFs signals renewed confidence, with major asset managers continuing to expand regulated access and reinforce the growing connection between traditional finance and digital assets.
At the time of writing, BTC is trading at $77,855.27 with a 24-hour trading volume of $30.07 billion and a market capitalization of $1.56 trillion. Despite the signs of stability over the last 24 hours, the BTC price structure and ETF growth point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: Bitcoin Price Eyes $67K as Jane Street Reveals $1B+ Bitcoin ETF Holdings
Bitcoin Bottom Pattern Hints at $110K Rally
According to the crypto analyst Ali Charts, Bitcoin may be forming a bottoming structure similar to the pattern observed in 2023. During that period, BTC repeatedly tested its channel ceiling without breaking higher, eventually suffering a roughly 20% pullback toward the mid-range.
After several failed attempts, buyers finally secured a breakout, triggering a powerful rally and shifting broader market momentum decisively higher.
Source: Ali Charts’ X Post
Such a scenario may unfold at the present time, with Bitcoin having already encountered one rejection level near the top of the channel.
In accordance with the fractal, Bitcoin might experience several more breakouts, which will end up as rejections, and then make a move back to the middle of the range near $70,000. Holding this level may provide for further growth toward $110,000.
Bitcoin ETFs Gain $217M, BlackRock’s IBIT Dominates
The data from Wu Blockchain further highlighted that US spot Bitcoin ETFs registered net inflows of about $217 million on August 31, indicating the revival of institutional appetite for the dominant cryptocurrency.
The IBIT ETF from BlackRock was the leader of the day’s money flow figures, bringing in around $206 million and capturing an overwhelmingly large share of the inflows into Bitcoin ETFs.
Source: Wu Blockchain’s X Post
The Spot Ethereum ETFs also witnessed robust inflow figures, with net inflows worth about $87.68 million and BlackRock’s ETHA being responsible for about $59.94 million in inflows.
It reflects the increasing influence of BlackRock in the crypto space, since the world’s largest asset management firm manages about $15.3 trillion worth of assets.
What Happens Next for Bitcoin?
The next step for Bitcoin will be determined by the ability of BTC to defend support at $70,000 and resume the bullish trend.
Any breakout through resistance could increase the likelihood of reaching $110,000, with additional demand driven by Bitcoin ETF inflows. Otherwise, a breakdown of support levels could lead to another correction.
Also Read: Bitcoin ETF Demand and Bullish Outlook Strengthens Case for $200K Rally
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