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Bitcoin(CRYPTO: BTC) remains in a narrow range around $78,000, with analysts pointing out that only a select few cryptocurrencies can expect meaningful gains in the future.
What Technical Analysts Forecast
Prominent technical analyst Doctor Profit posted his weekly update on X Sunday, noting that $71,000 remains extremely strong support, $78,500 the next major resistance and $82,000 as the level that confirms a full bull market.
He called the daily RSI hot but noted weekly and monthly readings remain neutral, arguing the move was driven by a short squeeze rather than heavy spot buying or new leveraged longs piling in.
Crypto Rover posted on X that Bitcoin is pushing higher over the weekend while spot cumulative volume delta remains nearly flat, meaning leverage rather than real buyers is driving the move.
He flagged that the last time this exact setup appeared, Bitcoin dropped from $81,000 to $77,000. Without spot buyers stepping in to validate the move, the pump risks a sharp reversal.
Widely-followed trader Smiley Capital on Sunday pointed out that the market is showing a clear three-tier structure:
- Majors like Bitcoin and Ethereum (CRYPTO: ETH) lead and can be considereds core long-term positions.
- Revenue-generating protocols like Hyperliquid as measured by Hyperliquid Strategies (NASDAQ:PURR) and Pump.fun (CRYPTO: PUMP) are worth owning rather than just trading.
- Other altcoins and meme coins that “you play but do not hold.”
What the ETF Data Shows
According to SoSoValue, ETH ETFs pulled in $824.42 million for the week ending Aug. 28, the strongest weekly total of 2026 and above the prior week’s record of $697.18 million.
August 28 alone brought in $102.18 million, led by BlackRock’s iShares Ethereum Trust ETF(NASDAQ:ETHA) with $83.79 million.
However, Bitcoin ETFs told a different story, recording a $201.81 million outflow on Aug. 28 and ending a nine-day inflow streak that had pulled in roughly $2.8 billion.
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