BTC stands steady at 79,000: spot dominates gains, ETF inflows hedge against selling pressure

According to Woofun AI, after experiencing a strong rise of nearly 25% in August, Bitcoin successfully built a line of defense above the $79,000 mark, establishing a macro price anchor in the current market.

Looking at the microtransaction structure, the Bitcoin price stabilized around $79,020 and remained fluctuating within a narrow range of $78,200 to $78,700 over the past 48 hours.

This stability stems from the continued injection of liquidity into regulated spot platforms. According to CoinGlass data, the total amount of derivatives liquidations triggered by short payback surpassed US$180 million this week. This passive buying behavior offset institutional sell-off pressure and drove prices upward. On the last trading day, Bitcoin's daily spot trading volume surpassed $34 billion, 14% higher than the mid-month moving average. This data was verified by CoinMarketCap and CoinGecko.

At the same time, the perpetual contract financing rate remains low at 0.008%, indicating that the current rise is driven by real spot demand rather than highly leveraged speculation.

According to data compiled by Woofun AI, at the fundamental level, the US Bitcoin spot ETF recorded a net inflow of US$420 million over the past five trading days, effectively hedging the pressure on capital outflows in the early third quarter. Bloomberg's intelligent analysis points out that the stability of institutional demand has reduced supply in the OTC market. On the network side, the mining difficulty reached a new high of 102 trillion hashes in the latest adjustments. At the end of August, the average computing power reached 730 EH/s, indicating that the infrastructure continues to expand. According to Glassnode data, the share of Bitcoin that has been held for more than a year is still above 65%, and the reluctance of long-term holders to sell provides bottom support for the market.

Looking ahead to the market, the first week of September will be a critical window. Non-farm payrolls data and overall employment conditions to be released by the US Bureau of Labor Statistics will be the core variables affecting market sentiment. These macroeconomic indicators will directly reshape investors' expectations about the direction of the Federal Reserve's monetary policy, and thus determine whether Bitcoin can break through the current consolidation range.