On Monday, the crypto market continued its consolidation trend, with the total market value remaining roughly between $2.77 trillion and $2.80 trillion. Bitcoin fluctuated in the range of $79,600 to $80,100, failing to sustain its upward momentum after approaching $82,000 earlier. The continuous net inflow into spot ETF has become one of the few supporting factors that are still strengthening at present.
ETF continues to make money
As of the week ending September 4, spot Bitcoin ETF saw a net inflow of approximately $770 million to $987 million in a single week, with its net asset size exceeding $101 billion. The article states that this size accounts for about 6.35% of the circulating supply of Bitcoin.
The derivatives market witnessed a round of forced liquidations. Coinglass data shows that over the past 24 hours, a total of 65,155 traders were liquidated, with a total amount of approximately $197.84 million. Among them, Ethereum long positions were liquidated for about $45.86 million, and Bitcoin short positions were liquidated for about $47.67 million.
XRP Maintains a narrow range of fluctuations
XRP remains in the range of $1.40 to $1.42. The article links this trend with the warnings from U.S. Senator Cynthia Lummis regarding the prospects of Clarity Act. She stated that if this Congress fails to pass the bill, the next more realistic window for market structure legislation may not come until 2030.
It is mentioned in the text that the probability of the bill passing on Polymarket has dropped to between 13% and 18%. In the author's view, this means that major tokens, including XRP and SOL, are more likely to maintain their current regulatory status in the short term, rather than adopting a new federal legislative framework.
Factors supporting the current performance of XRP also include the cash flow from spot ETF. The article states that the cumulative net inflow from spot XRP ETF has reached $1.61 billion, accounting for about 2.05% of its market value.
AI Concept Token Strengthens
In addition to the allocation to mainstream cryptocurrencies, some funds have flowed towards AI related crypto assets. The report mentions that the advancement of IPO for Anthropic and the launch of a limited preview version of GPT-6 Astra by OpenAI have led to active performance of the related tokens.
Among them, Bittensor ( TAO ) rose to around $270; Near Protocol ( NEAR ) rose to $2.35, with a 7-day increase of over 26%; Worldcoin ( WLD ) was reported at $0.4492, with a weekly increase of about 25.6%.
Macroeconomic data suppresses risk appetite
At the macro level, in August, the United States added 162,000 non-farm jobs, exceeding market expectations of 55,000, with an unemployment rate of 4.1%. After the data was released, futures markets' bets on a Fed interest rate cut at its September meeting returned to nearly 50-50.
Before the release of inflation data, market risk appetite remained cautious. The article argues that this is also one of the important reasons why Bitcoin has remained sideways, with funds flowing more towards certain hot sectors.
