Key Notes

• Bitcoin is regaining its safe-haven status amid global uncertainty, with analysts predicting continued inflows.

• Bitcoin trades near $111,000, with analysts eyeing the 20-week SMA as key support.

• Ethereum ETFs see outflows as ETH struggles below $4,400, with a potential drop toward its 21-week EMA at $3,400.

Amid the broader crypto market correction, Bitcoin is once again emerging as a safe haven asset, regaining the “digital gold” narrative amid the global macro uncertainty.

Inflows into spot Bitcoin ETFs surged on September 2, recording a total of $332.7 million. On the other hand, Ethereum ETFs have seen outflows of $135 million on September 2.

The shift follows a strong August for Ethereum funds, which recorded $3.87 billion in inflows, while Bitcoin ETFs faced $751 million in outflows.

Fidelity Leads Bitcoin ETF Inflows

Fidelity’s Wise Origin Bitcoin Fund (FBTC) topped the inflow charts with $132.7 million, followed by BlackRock’s IBIT at $72.8 million.

Other major issuers, including Grayscale, Ark 21Shares, Bitwise, VanEck, and Invesco, also reported additional inflows, as per data from SoSoValue.

Bitcoin ETF inflows are on the rise again. | Source: SoSoValue

The latest uptick in spot Bitcoin ETF inflows coincides with the resurgence of Bitcoin’s “digital gold” narrative.

Crypto investment products saw a strong rebound last week, recording $2.48 billion in net inflows following $1.4 billion in outflows the week before.

Related article: Ethereum ETF Inflows Overtake Bitcoin ETFs by Nearly 10x in a Week

Bitcoin price took a dive under $107,500, before recovering once again to $111,000, which is its 20-week simple moving average (SMA).

Bitcoin made it to the bull market support band a couple of days before September began, but regardless here we are

This is where the bulls would like to hold the line.

August formed a local high, September will likely form a local low.

Note that September 1st was already a… https://t.co/qcUYXpQl2X pic.twitter.com/ooMbDDdziQ

— Benjamin Cowen (@intocryptoverse) September 2, 2025

Spot Ethereum ETFs Are Bleeding

Ether ETFs experienced significant outflows, with Fidelity’s FETH leading the decline at $99.2 million, followed by Bitwise’s ETHW with $24.2 million. On August 29 alone, Ether ETFs recorded a total of $164 million in withdrawals.

These outflows come as Ethereum price has been under selling pressure, and is currently trading under $4,400.

Analyst Benjamin Cowen expects Ethereum to drop to its 21-week EMA within the next 4-6 weeks, after which it could rally to new all-time highs, with a final rotation into Bitcoin this cycle.

I think Ethereum will drop to its 21W EMA within the next 4-6 weeks (regardless of what Bitcoin does).

After Ethereum hits the 21W EMA, it should then rally to new All Time Highs.

I think we are about to witness the final rotation into Bitcoin this market cycle. pic.twitter.com/asBSYh6bB3

— Benjamin Cowen (@intocryptoverse) September 2, 2025

As shown in the image above, the ETH price could potentially drop to $3,400 by September-end. There’s a possibility for another 20% correction from here before ETH resumes its Q4 rally to new all-time highs.