Bitcoin declined 1.6% to $79,621 after rejection at $82,000, recording two consecutive lower daily closes. Trading volume dropped 18%. Despite weakening momentum, institutional demand persisted. Morgan Stanley’s MSBT Bitcoin ETF accumulated 94.56 BTC worth $7.54 million from Coinbase Prime, bringing its four-day total to 355.33 BTC valued at $28.3 million. Spot Bitcoin ETFs saw three consecutive days of net inflows, with the latest session attracting $174 million. The Coinbase Premium Index turned positive on September 4, signaling stronger buying pressure from Coinbase investors. Exchange netflows showed net outflows, reducing available supply.
Bitcoin recorded two consecutive lower daily closes after facing rejection at $82,000. The asset fell to $78,000 before recovering slightly, trading around $79,621 at press time.
Trading volume declined 18%, reflecting slower market activity. Despite weakening price momentum, institutional investors continued accumulating Bitcoin.
Morgan Stanley increased its exposure through its MSBT Bitcoin ETF. According to Onchain Lens, the ETF withdrew 94.56 BTC from Coinbase Prime, worth $7.54 million.
Over four days, the ETF received 355.33 BTC, valued at approximately $28.3 million. Spot Bitcoin ETFs recorded net inflows for three consecutive days.
The latest session attracted $174 million. Bitcoin’s Coinbase Premium Index turned positive on September 4 after remaining negative for one week, suggesting stronger buying pressure from Coinbase investors relative to Binance traders.
Bitcoin previously climbed toward $82,000 when daily ETF inflows exceeded $700 million. The latest inflows were considerably smaller but sustained demand could still support another recovery attempt.
Institutional accumulation coincided with substantial BTC withdrawals from exchanges. Bitcoin’s Exchange Netflow reached -6,200 BTC on September 4 before standing at -1,200 BTC, indicating net exchange outflows.
The outflow pace had weakened, but reduced exchange supply could support BTC if institutional demand persists. The Momentum Shift Indicator suggested that BTC’s broader bullish structure remained intact.
BTC could reclaim $80,000 before retesting the $82,000 rejection level. A decisive move above that resistance could create room for further gains.
However, continued macroeconomic pressure may extend the correction, with $76,200 becoming BTC’s next support. The bigger test is whether steady institutional absorption can overcome weakening short-term participation.
