Bitcoin Price Surge Cools Near $78K, But ETF Inflows Top $3 Billion
Bitcoin is trading near $78,000, easing back 0.4% since midnight UTC as the market catches its breath after last week’s bitcoin price surge carried prices from below $63,000 to a high near $81,400. The pullback is modest, roughly 0.7% over the past seven days, but it’s happening just as attention shifts toward a much louder story brewing in the altcoin market: Arbitrum’s token has jumped nearly 30% in 24 hours on the back of surging revenue from Robinhood Chain.
Key takeaways
- Bitcoin trades near $78,000, down 0.4% since midnight UTC and about 0.7% over the past week following last week’s short squeeze.
- For nine consecutive days, spot bitcoin ETFs experienced net inflows that accumulated to approximately $3.04 billion through August 27, the longest streak since April.
- Arbitrum’s ARB token jumped nearly 30% in 24 hours after Robinhood Chain’s revenue-sharing model began paying off.
- Robinhood Chain’s 24-hour transaction revenue topped $2 million, up from about $1.22 million the day before.
- DeFi tokens Curve DAO, Uniswap, Aave and Morpho all posted gains, reinforcing sector strength even as the broader market cools.
Bitcoin Price Surge Cools as Spot ETF Inflows Extend Streak
Bitcoin is consolidating just under $78,000 as traders digest the gains from a rally that briefly pushed the token above $81,400 last week. That bitcoin price surge has given way to a quieter stretch, with the asset down 0.4% since midnight UTC and roughly 0.7% for the week. Even so, crypto’s relative strength against traditional markets hasn’t faded — Nasdaq 100 futures slipped 0.5% over the same period, meaning bitcoin is still outpacing equities.
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