Bitcoin breakout fades above $80,000 amid choppy US demand, hawkish Fed

  • Bitcoin struggled to break convincingly above $80,000 amid uneven US investor demand.
  • US-listed spot Bitcoin ETFs recorded two sizable outflow days during the past week.
  • Coinbase's seven-day average premium remained negative for more than four months.

Bitcoin has struggled to establish a convincing move above $80,000 as uneven demand from US investors weighs on the latest rally. Inflows into US-listed spot Bitcoin exchange-traded funds improved in August but remained inconsistent, with the funds recording two sizable outflow days in the past week. The seven-day average Coinbase premium, which measures prices on the United States' largest exchange against international platforms, has stayed negative for more than four months, including during last month's rally.

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