NEW YORK, September 2, 2026, 12:30 EDT
- Bitcoin was at $77,417 as of 12:30 EDT, 0.2% lower than the same time on Coinbase on Tuesday.
- On September 1, U.S. spot-bitcoin ETFs recorded outflows of $236.5 million following an inflow of $216.7 million.
- Open interest in futures and perpetual contracts declined by 1.8% last week to $38.6 billion.
Bitcoin hovered close to $77,400 on Wednesday following an ETF outflow of $236.5 million. The decline put pressure on a rally largely fueled by cash demand rather than leverage.
The asset was trading at $77,417 as of 12:30 EDT, 0.2% lower than the 12:00 EDT hourly close on Tuesday, according to Coinbase Global, Inc. (NASDAQ:COIN) data.
Bitcoin recovered from the morning low
BTC-USD hourly closes, Eastern time
Source: Coinbase Exchange candles. The value callout uses the 12:30 spot quote; plotted points use hourly closes through 12:00 EDT.
Stability in prices stands in sharp contrast to the sudden shift in demand for funds. Farside Investors reported a $216.7 million influx on August 31, followed by a reversal to a $236.5 million outflow the next day.
BlackRock, Inc. NYSE:BLK saw a withdrawal of $201.2 million on September 1. Fidelity recorded an outflow of $43.7 million, while Bitwise posted an inflow of $8.4 million. The remaining funds were unchanged.
U.S. spot-bitcoin ETF demand reversed twice
Daily net flow, $ millions
Source: Farside Investors, retrieved September 2, 2026, 12:30 EDT. Bar length shows absolute flow magnitude.
During the same 24-hour period, Bitcoin posted smaller losses than two major cryptocurrencies. Ether declined by 1.4%, while Solana dropped 1.4%. Bitcoin edged down 0.2%.
Bitcoin limited the 24-hour decline
Change from the 12:00 EDT hourly close on September 1 to September 2
Source: Coinbase Exchange, September 2, 2026, 12:30 EDT. Bar length shows loss magnitude, capped at 1.4%.
The foundation of the investor argument is market structure. According to K33 AB (STO:K33), futures and perpetual open interest reached $38.6 billion. This figure represented a 1.8% decrease over one week, while perpetual funding remained neutral.
Lower leverage limits the number of positions at risk of forced liquidation. Wincent senior director Paul Howard said to The Block that market participants anticipated prices would “hold the current levels for the next fortnight.”
Cash demand is still the main challenge. According to K33, global bitcoin exchange-traded products took in 52,152 bitcoin in August, marking the biggest monthly intake since November 2024.
The macro environment has become less accommodating. Investors assigned roughly a 70% probability to a Federal Reserve rate hike in September, The Block said. Increased yields make it costlier to hold assets that do not generate income.
The next significant test arrives on Friday. The U.S. Bureau of Labor Statistics is scheduled to publish August payroll figures at 08:30 EDT on September 4.
As of 08:00 EDT Wednesday, Bitcoin was up 22.0% over the past month. However, it was trading 31.1% lower than at the same time a year ago, Fortune’s same-time comparison showed.
Risks: A major ETF outflow could push prices below the $77,100 support level. Higher yields could result from a hawkish jobs report. Low crypto liquidity has the potential to amplify any move.
Currently, price is withstanding lighter flows. If this level is maintained through Friday, it will reinforce the spot-driven rally narrative. A break below would reveal how swiftly cash demand might drop.
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