Bitcoin anchors on ETF inflows, altcoins diverge

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Introduction

The opening week of September brought a patchwork of signals for investors. A US court ruling on tariffs added trade uncertainty, while inflation and softer job openings pointed to a cooling labour market. In Europe and Asia, conditions were mixed. Eurozone inflation edged higher, China’s growth stayed fragile, and Japan’s prices eased. Meanwhile, Australia’s firmer CPI and GDP tempered hopes of near-term cuts.

For crypto, the backdrop translated to consolidation. Bitcoin held around US$108K and global market capitalisation hovered near US$3.9T. Solana showed relative strength, and institutional flows remained steady as traders rotated selectively across majors.

Check prices on the BTC Markets exchange.

State of crypto

• Bitcoin holds firm as US$343M in ETF inflows reinforce sentiment
• Ethereum clings to US$4.2K despite selective weekly outflows
• Solana powers above US$200 on speculation and ecosystem growth
• XRP lags peers, sliding under US$3.00 as demand stays muted
• Altcoins diverge as BCH rebounds, while HBAR and XLM stumble
• Global crypto market cap hovers near US$3.9T after August swings

Bitcoin holds firm as US$343M in ETF inflows reinforce sentiment

Bitcoin ended the week just above US$108K after consolidating from its mid-August peak near US$124K. On the 4-hour chart, BTC attempted a recovery from lows around US$107K but stayed capped below resistance at US$114K–116K. Momentum indicators sit mid-range and show relief from oversold conditions, but no confirmed breakout.

From a broader perspective, immediate support rests near US$110K, with stronger downside protection at the 200-day moving average around US$101.5K. The structure still points to consolidation rather than a breakdown, and volatility has compressed after August’s turbulence. As long as BTC holds above US$100K, the bigger trend remains constructive.

ETF flows helped steady sentiment. Bitcoin ETFs saw US$343M of net inflows over the past seven days, lifting cumulative inflows to US$54.6B. The steady bid reinforced Bitcoin’s role as the primary institutional allocation vehicle, even as traders wait for clearer macro signals before chasing higher levels.

Check BTC

Ethereum clings to US$4.2K despite selective ETF outflows

ETH traded between US$4,250–4,400 this week, holding above its 50-day moving average near US$4,100. The higher-low structure since mid-year keeps the uptrend intact, with resistance still overhead at US$4,400–4,500.

ETF flows told a softer story. Ethereum products recorded US$88.5M in weekly outflows, though a single-day inflow of US$20.8M showed tactical institutional interest. Compared with Bitcoin’s steady demand, ETH remains the preferred secondary play but is treated more selectively by investors.

Check ETH

Solana powers above US$200 on speculation and ecosystem growth

SOL traded near US$209 this week and remained comfortably above its 50-day moving average at US$187 and the 200-day at US$157. Support stands in the US$186-190 zone, while resistance remains at US$220–240, where previous rallies have stalled. Momentum indicators, with the RSI at 58, point to steady rather than overheated conditions.

Speculation around potential ETF products has kept Solana in focus and reinforced its role as a high-beta altcoin. Developer activity and ecosystem growth also supported sentiment. If Bitcoin dominance drifts lower, SOL may benefit further from rotation into major altcoins.

Check SOL

XRP lags peers, sliding under US$3.00 as demand stays muted

XRP traded in the US$2.74–2.95 range this week and underperformed compared with majors such as ETH and SOL. The token remains above its 200-day moving average near US$2.48, but momentum has weakened, with RSI readings pointing lower.

Weekly flows offered little support and price action stayed subdued. Unless new catalysts emerge, XRP may continue to lag while traders focus on assets showing stronger technical or institutional signals.

Check XRP

Altcoins diverge as BCH rebounds, while HBAR and XLM stumble

Altcoin performance was uneven this week and reflected ongoing consolidation. Bitcoin Cash gained nearly 4% as payments narratives resurfaced, while Hedera and Stellar posted sharper declines.

The divergence showed that capital rotated selectively into tokens with clearer catalysts, while others lost ground. The uneven tone across altcoins reinforced the broader picture of consolidation in the sector.

Check BCH

Check HBAR

Check XLM

Global crypto market cap hovers near US$3.9T after August swings

The total crypto market ended the week around US$3.87T, after peaking above US$4.1T in mid-August and dipping to US$3.75T later in the month. Trading volumes held steady near US$150B. The pattern reflects a consolidating sector, with investors favouring majors backed by clear catalysts rather than driving a broad-based rally.

Crypto Fear & Greed Index

Source: Fear & Greed Index

BTC Markets in the news

The Australian: Ethereum takes on bitcoin: how high experts predict it could go

BTC Markets head of finance Charlie Sherry said while Bitcoin was a store of value “like digital gold that some people think”, Ethereum was more of a technology “that enables finance to happen in all sorts of ways”.

“Ethereum is the main application layer for crypto – lots of crypto applications are built on the Ethereum blockchain and Ethereum is the network that facilitates those applications like decentralised banks, trading platforms, NFT exchanges,” he said.

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The week ahead: Economic events

Thursday, September 4th

• Australia Balance of Trade
• Canada Balance of Trade
• United States ISM Services PMI

Friday, September 5th

• United Kingdom Retail Sales MoM
• Canada Unemployment Rate, Ivey Purchasing Managers Index
• United States Non Farm Payrolls, Unemployment Rate

Monday, September 8th

• China Balance of Trade, Exports YoY, Imports YoY,
• Germany Balance of Trade

Tuesday, September 9th

• Australia Consumer Confidence MoM, Business Confidence

Wednesday, September 10th

• China Inflation Rate
• United States Producer Price Inflation MoM

Source: Trading Economics

Market reflections

• United States: Economic signals remain steady as labour market cools
• Eurozone: Inflation ticks up to 2.1% as growth indicators soften
• China: Manufacturing stays in contraction while services growth slows
• Japan: Consumer prices ease to 2.5% as output contracts
• Australia: CPI climbs to 2.8% as GDP expands modestly in Q2

United States: Economic signals remain steady as labour market cools

US inflation held close to expectations in July, with headline prices up 2.6% year-on-year and core at 2.9%. Job openings fell to 7.18M, the lowest since early 2021, pointing to softer labour demand. Treasury yields hovered near 4.2% as investors looked ahead to the Fed’s September meeting.

For crypto investors: moderating inflation and a cooling jobs market support the case for easier policy, but Fed caution keeps volatility risks alive.

Eurozone: Inflation ticks up to 2.1% as growth indicators soften

Euro-area inflation nudged higher in August, with prices up 2.1% year-on-year compared with 2.0% in July. Final PMIs showed composite activity at 51.0, with services barely above 50 and manufacturing still subdued. German 10-year bund yields moved into the high-2% range as expectations grew that the ECB would hold steady.

For crypto investors: stable policy supports risk sentiment, but weak growth signals keep euro-based liquidity limited.

China: Manufacturing stays in contraction while services growth slows

China’s latest PMIs confirmed a hesitant recovery, with factory activity at 49.4 and services easing to 50.3. Beijing avoided sweeping stimulus, instead focusing on targeted measures, which left investors cautious about the pace of recovery.

For crypto investors: fragile Chinese demand weighs on global risk appetite and dampens flows into digital assets.

Japan: Consumer prices ease to 2.5% as output contracts

Tokyo inflation cooled to 2.5% in August, helped by government energy subsidies. Industrial output dropped 1.6% month-on-month, while unemployment ticked down to 2.3%. The Bank of Japan kept its gradual normalisation stance, with 10-year yields steady near 1.6%.

For crypto investors: softer prices reduce pressure for faster tightening, but higher yen yields still constrain risk positions, including crypto trades.

Australia: CPI climbs to 2.8% as GDP expands modestly in Q2

Australia’s inflation accelerated to 2.8% in July, up from 1.9% in June, driven by housing and food costs. Q2 GDP expanded 0.6% quarter-on-quarter, reflecting steady but unspectacular growth. Markets expect the RBA to hold at 3.60% later this month, balancing above-target inflation with modest activity.

For crypto investors: sticky inflation and steady rates keep local funding costs elevated, adding AUD-linked volatility to crypto markets.

Closing thoughts: Markets in transition, crypto holds its ground

Global markets continue to walk a fine line. Inflation in the US and Eurozone is moving closer to central bank targets, but labour and growth numbers hint at only gradual cooling. Policymakers remain cautious, close to easing yet unwilling to commit, while tariff uncertainty adds another layer of complexity.

Crypto echoed this steady but selective mood. Bitcoin drew consistent ETF inflows, while Ethereum and Solana attracted attention in different ways. Capital moved only where clear catalysts existed, leaving the broader market in consolidation. Liquidity is thin and sentiment may shift quickly, but institutional flows continue to provide a base.

Scam alert

Impersonation scams: Recognise the red flags

Scammers pretend to be banks, crypto exchanges, government agencies, or even friends and family to steal money or personal details. They use tactics like fake numbers or text messages to appear genuine.

Warning signs it could be a scam

• Messages that include links asking for login or personal details.
• Urgent requests that demand quick action to fix a “problem.”
• Calls or texts that claim to be from a government agency and threaten arrest or legal action.
• Business payment instructions that direct you to a new bank account or BSB.
• Contacts that say they’ve changed numbers but avoid verifying their identity.

How to protect yourself

• Don’t click on links or download attachments from unknown sources.
• Confirm the message by contacting the organisation directly using official details.
• Watch out for small changes in phone numbers, email addresses, or names.
• End the conversation if someone threatens or intimidates you.
• If someone claims to be a friend or relative with a new number, always verify first.

Report scams and find more advice at scamwatch.gov.au.

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