U.S. spot Bitcoin ETFs booked a seventh straight day of net inflows on Aug. 24, pushing ETF assets to $98.56 billion as bitcoin held above $80,000. The rally has technicians eyeing a break toward $100,000, though a $4 billion short squeeze last week and stretched sentiment readings leave the durability of the move an open question.
Bitcoin ETFs extend inflow streak
U.S. spot bitcoin ETFs took in $337.56 million on Aug. 24, a seventh consecutive day of net inflows, according to SoSoValue data cited by CoinDesk. Bitcoin ETF assets have climbed to $98.56 billion from $78.67 billion a week earlier, tracking both the inflows and the price.
Cointelegraph, citing the same SoSoValue data, counted the streak differently: six consecutive trading days of inflows totaling $2.26 billion, which has narrowed the funds' year-to-date net outflows to about $2.57 billion. Cumulative net inflows since launch have reached $54 billion. The Crypto Fear & Greed Index stood at 74, its highest level since October 2025, after months in "Fear" territory.
Bitcoin tests resistance below $100,000
Bitcoin reached $81,237.94 on Tuesday, its highest level since May, before trading at $80,323.24 in Asian hours. Its August gain has reached 28%. The advance now presses against an $81,500 to $84,400 resistance zone built from May 2026 price reactions and former lows from November and December 2025.
A sustained daily close above $84,400 would put the January high of $98,068.26 and the $100,000 level back in play, roughly 21% to 23% above Tuesday's intraday high, Finance Magnates analyst Damian Chmiel wrote. Tony Sycamore, a market analyst at IG, reached a similar conditional conclusion, telling Reuters: "A sustained break above here would open the door for a move towards $95,000-$100,000." Bitcoin remains well above its 200-day EMA near $71,541, and a close back below that level would weaken the bullish setup.
Debasement trade and a fading short squeeze
The rally has tracked a broader macro shift. The U.S. Treasury expanded planned buybacks of longer-dated debt, a step markets have tied to lower long-term yields, a softer dollar and renewed demand for assets tied to the debasement trade. Spot bitcoin ETFs also attracted $1.92 billion in the week through Aug. 21, their strongest weekly inflow since October 2025.
Part of last week's move was mechanical, however: more than $4 billion of short positions were liquidated during the surge, forcing bearish traders to buy back exposure as the price rose. CoinDesk noted that $3 billion of that squeeze drove last week's breakout past $69,000, forced buying that cannot repeat once short sellers have covered. That is why the ETF inflow streak matters: it is spot demand that outlasts a squeeze, evidence institutions are chasing the move rather than merely covering it. Whether that buying holds is now the open question, with analysts flagging overbought conditions even as bitcoin trades above $80,000.
Sources: CoinDesk, Cointelegraph, Finance Magnates
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