Key Takeaways
CryptoSlate reports Bitcoin gained 23.5% in August, with a price prediction model mapping a median forecast of $81,319 by September 29 amid market volatility and ETF outflow tests.
According to reporting by CryptoSlate, Bitcoin rose 23.5% over the past 30 days, trading near $77,700. CryptoSlate's market signal registered a bullish 68 out of 100 following trailing market conditions. Published at the August 30 close, CryptoSlate's new price prediction model maps a September 29 median forecast of $81,319, pointing to a slower 4.7% gain from its $77,667 reference price.
The model's forecast spans from a P20 lower estimate of $72,502 to a P80 upper estimate of $91,049, indicating substantial volatility. CryptoSlate noted that Bitcoin must reclaim $80,000 following a late-August rejection above $81,000, while immediate support rests around $77,000.
Previously, spot Bitcoin ETF demand reached $2.23 billion during the rally, while a nine-day US spot Bitcoin ETF inflow streak totaling about $3.04 billion concluded with net outflows of $201.9 million on August 28. CryptoSlate reported that these ETF flows and the $80,000 price level will test whether spot demand can sustain the rally.
Source & Fact-Check Note
This report is synthesized from coverage by CryptoSlate. Information has been fact-checked and structured for market clarity by CoinQuickly’s research desk.
Read original article at CryptoSlate ↗
