Bitcoin tops $82,000 on ETF inflows as Ethereum trails below $3,000

Bitcoin pushed above $82,000 as institutional demand returned to crypto markets, while Ethereum gained nearly 5 percent to reclaim $2,500 — still roughly $500 short of the $3,000 threshold.

The move followed Federal Reserve Governor Christopher Waller's comments that he would support holding rates unchanged if inflation continues to cool, easing fears of a September hike that had pressured risk assets, Prateek Gupta, head of business at Mudrex, said.

Spot Bitcoin ETFs recorded $3.52 billion in net inflows during August, the strongest month since July 2025, while ETH ETFs logged 12 consecutive days of inflows before roughly $48 million in outflows this month. Total crypto market capitalization rose 3.6 percent to $2.72 trillion, with $132 billion added in 24 hours. Derivatives data shows $691 million in positions liquidated over the latest 24-hour period, up 166 percent from the prior day, indicating forced short covering accelerated the rally.

The critical test is whether Ethereum can close the gap to $3,000. The ETH/BTC ratio has been printing lower highs and lower lows, suggesting institutional capital remains concentrated in Bitcoin exposure through spot ETFs rather than rotating into Ethereum. Analysts see BTC facing resistance at $82,000-$84,000, with support at $78,000-$80,000, while the Fed's September 15-16 meeting and upcoming US employment data will determine whether the recovery extends.

Ethereum's Structural Divergence

Ethereum's recovery to $2,515.53 (as of 15:29 IST) came as the token outperformed Bitcoin on a weekly basis, gaining 4.74 percent versus BTC's 4 percent. Yet the ETH/BTC ratio continues to print lower highs and lower lows, a pattern suggesting institutional capital remains concentrated in Bitcoin exposure through spot ETFs rather than rotating into Ethereum.

August data illustrates the divergence. Spot BTC ETFs pulled in $3.52 billion in net inflows, while ETH ETFs saw 12 consecutive days of inflows before a $48 million outflow earlier this month. Bitcoin's dominance rose to 57.8 percent, up 0.42 percentage points, while Ethereum's share stood at 10.91 percent, up 1.04 percentage points.

The broader market showed breadth beyond the two largest tokens. XRP gained 6 percent to nearly $1.44, while Solana and BNB also posted gains, according to CoinGecko data. Bitcoin's correlation with gold reached its highest level since 2020, Gupta noted. Strategy (MSTR) returned as a buyer of Bitcoin, adding to the institutional flow picture, while mining stocks including BMNR rallied alongside the price recovery.

Overbought Signals and the Path Forward

Bitcoin's daily Relative Strength Index sits above 73, while the hourly RSI is above 80, pointing to overbought conditions that could trigger short-term consolidation, Balaji Srihari, vice president of business at CoinSwitch, said. The Crypto Fear & Greed Index climbed to 78, firmly in "greed" territory.

September rate-hike expectations dropped 12 percentage points to 54.6 percent after Waller's remarks, while the dollar weakened, further improving the appeal of risk assets. Bitcoin rallied from around $77,200 to above $81,000 in the wake of the Fed comments, Gupta said.

If Bitcoin clears $83,000 with sustained ETF inflows and Ethereum holds above $2,500, the path toward $3,000 for ETH becomes more credible. A failure could pull Bitcoin back toward $72,000 and keep Ethereum range-bound between $2,300 and $2,600, analysts said.

This article is for informational purposes only and does not constitute investment advice.