Bitfinex Says ETFs Buy, Treasuries Sell, Bitcoin Range Still Intact
TL;DR
- Bitfinex ETF Flows: Spot Bitcoin ETFs absorbed $865.3 million, showing strong institutional demand even as overhead supply limits upside.
- Labour Data: Cooling US employment reduced September rate hike odds to 43.9%, supporting risk assets and crypto.
- Yield Divergence: Short-term yields fell while long-term yields stayed above 5.2%, keeping Bitcoin locked in its $62,000–$65,000 range.
Bitcoin’s latest recovery attempt is gaining traction, but the move remains tied to macroeconomic relief rather than a standalone crypto catalyst. Institutional demand is improving as softer US employment data reduces the likelihood of a September rate increase, yet corporate treasury selling and stubborn long-term yields continue to cap momentum. Within this backdrop, Bitfinex notes that the market’s bid has returned, even if the broader setup still favours range-bound behaviour.
ETF Demand Strengthens as Macro Conditions Ease
BTC pushed toward the upper end of its $62,000–$65,000 range as risk assets rallied on geopolitical de-escalation, lower oil prices and weaker US labour data. Spot Bitcoin ETFs absorbed $865.3 million across five straight positive sessions, taking in roughly 13,300 BTC while the network issued only 3,150 BTC. According to Bitfinex, this imbalance shows that institutional appetite is improving again.
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