BTC Price Outlook: Spot ETF Inflows, CPI Report, and Presidential Debate to Dictate Trends

Bitcoin Enjoys Four-Day Winning Streak

On Tuesday, September 10, BTC advanced by 1.02%, following a 3.82% rally from the previous session, closing at $57,663. The gains reflected improving sentiment toward the BTC-spot ETF market.

US BTC-spot ETF Market Sees Renewed Demand

On Monday, September 9, the US BTC-spot ETF market ended an eight-day outflow streak, registering net inflows of $28.6 million. Flow trends improved further on Tuesday, September 10, supporting BTC’s extended gains and a brief return to the $58,000 level.

According to Farside Investors,

• Fidelity Wise Origin Bitcoin Fund (FBTC) reported net inflows of $63.2 million.
• Grayscale Bitcoin Mini Trust had net inflows of $41.1 million.
• ARK 21Shares Bitcoin ETF (ARKB) saw net inflows of $12.7 million.
• Grayscale Bitcoin Trust (GBTC) saw net outflows of $23.2 million.

Excluding iShares Bitcoin Trust (IBIT) flows, US BTC-spot ETFs saw $117.0 million in net inflows.

US Economic Calendar: Inflation in Focus

On Wednesday, the crucial US CPI Report requires investor consideration.

Economists forecast the US annual inflation rate to ease from 2.9% in July to 2.6% in August. Softer-than-expected inflation figures could reignite investor bets on a 50-basis point September Fed rate cut. A more dovish Fed rate path may boost BTC demand, possibly pushing BTC to $60,000. Lower borrowing costs typically drive demand for riskier assets to enhance earnings.

Investors should stay vigilant as shifting sentiment and supply-demand trends may affect BTC demand. Stay updated with our latest news and analysis to manage exposure to BTC and the broader crypto market.

US Political Developments May Impact BTC Sentiment

US politics is also in the spotlight. Democratic Vice President Kamala Harris and Republican front-runner Donald Trump go head-to-head in a presidential Debate.

Comments relating to crypto will likely influence BTC price trends. However, investors should also consider who performed better in the debate. BTC could target $60,000 if Trump performs better than Harris. The crypto market continues to favor pro-crypto candidate Donald Trump, who has continued to target the crypto vote since May, when he said,

“If you like crypto in any form…and it comes in many forms…if you’re in favor of crypto, you better vote Trump.”

Investors should remain alert amid possible changes to supply-demand trends. Stay updated with our latest news and analysis to manage exposure to BTC and the broader crypto market.

Technical Analysis

Bitcoin Analysis

BTC remained below the 50-day and 200-day EMAs, confirming a bearish price trend.

A return to $58,000 would support a move toward the 200-day and 50-day EMAs. Furthermore, a break above the 50-day EMA could bring the $60,365 resistance level into play.

The US Presidential Debate, the US CPI Report, sentiment toward the Fed rate path, and BTC-spot ETF market flow trends require consideration.

Conversely, a drop below $55,000 could signal a fall to the $52,884 support level.

With a 45.71 14-day RSI reading, BTC may fall through $55,000 before entering oversold territory.

Ethereum Analysis

ETH hovered well below the 50-day and 200-day EMAs, sending bearish price signals.

An ETH breakout from the $2,403 resistance level could give the bulls a run at the $2,500 level. Furthermore, a return to $2,500 may indicate a move toward the $2,664 resistance level.

US ETH-spot ETF market-related updates also require consideration.

Conversely, an ETH drop below the September 6 low of $2,150 could signal a drop to the $2,124 support level.

The 14-period Daily RSI reading, 41.02, indicates an ETH drop to the $2,124 support level before entering oversold territory.