Bitcoin recorded two consecutive lower daily closes after facing rejection at $82,000.
$BTC fell to $78,000 before recovering slightly. At press time, Bitcoin traded around $79,621, down 1.6% daily. Its Trading Volume also declined 18%, reflecting slower market activity.
Despite weakening price momentum, institutional investors continued accumulating Bitcoin.
Why is Morgan Stanley buying Bitcoin?
Bitcoin [$BTC] continued attracting considerable institutional capital. AMBCrypto earlier reported $730 million in net Spot Bitcoin ETF inflows.
Morgan Stanley was among the institutions increasing its exposure.
According to Onchain Lens, its MSBT Bitcoin ETF withdrew another 94.56 $BTC from Coinbase Prime. The purchase was worth $7.54 million.
Over four days, the ETF received 355.33 $BTC, valued at approximately $28.3 million. That accumulation aligned with stronger demand across the broader ETF market.
Spot Bitcoin ETFs recorded net inflows for three consecutive days. The latest session attracted $174 million.
On top of that, Bitcoin’s Coinbase Premium Index supported the institutional demand narrative. The metric turned positive on the 4th of September after remaining negative for one week.
A positive Coinbase Premium Index suggested stronger buying pressure from Coinbase investors relative to Binance traders.
Bitcoin previously climbed toward $82,000 when daily ETF inflows exceeded $700 million. However, the latest inflows were considerably smaller. Sustained demand could still support another recovery attempt.
Can ETF demand return Bitcoin to $82K?
Institutional accumulation coincided with substantial $BTC withdrawals from exchanges, reducing immediately available supply.
Bitcoin’s Exchange Netflow reached -6,200 $BTC on the 4th of September. It later stood at -1,200 $BTC.
Both readings indicated net exchange outflows. However, the latest figure showed that the outflow pace had weakened. Even so, reduced exchange supply could support $BTC if institutional demand persists.
The Momentum Shift Indicator also suggested that $BTC’s broader bullish structure remained intact. Therefore, $BTC could reclaim $80,000 before retesting the $82,000 rejection level.
A decisive move above that resistance could create room for further gains. However, continued macroeconomic pressure may extend the correction. In that scenario, $76,200 could become $BTC’s next support.
The bigger test is whether steady institutional absorption can overcome weakening short-term participation.
Final Summary
- Morgan Stanley’s MSBT Bitcoin ETF accumulated another 94.56 $BTC worth $7.54 million from Coinbase Prime.
- Bitcoin [$BTC] bullish structure holds intact despite the retrace, largely held by strong institutional demand.
Leave a Reply
You must be logged in to post a comment.