Bitcoin recorded two consecutive lower daily closes after facing rejection at $82,000.
BTC fell to $78,000 before recovering slightly. At press time, Bitcoin traded around $79,621, down 1.6% daily. Its Trading Volume also declined 18%, reflecting slower market activity.
Despite weakening price momentum, institutional investors continued accumulating Bitcoin.
Why is Morgan Stanley buying Bitcoin?
Bitcoin [BTC] continued attracting considerable institutional capital. AMBCrypto earlier reported $730 million in net Spot Bitcoin ETF inflows.
Morgan Stanley was among the institutions increasing its exposure.
According to Onchain Lens, its MSBT Bitcoin ETF withdrew another 94.56 BTC from Coinbase Prime. The purchase was worth $7.54 million.
Over four days, the ETF received 355.33 BTC, valued at approximately $28.3 million. That accumulation aligned with stronger demand across the broader ETF market.
Spot Bitcoin ETFs recorded net inflows for three consecutive days. The latest session attracted $174 million.
On top of that, Bitcoin’s Coinbase Premium Index supported the institutional demand narrative. The metric turned positive on the 4th of September after remaining negative for one week.
A positive Coinbase Premium Index suggested stronger buying pressure from Coinbase investors relative to Binance traders.
Bitcoin previously climbed toward $82,000 when daily ETF inflows exceeded $700 million. However, the latest inflows were considerably smaller. Sustained demand could still support another recovery attempt.
Can ETF demand return Bitcoin to $82K?
Institutional accumulation coincided with substantial BTC withdrawals from exchanges, reducing immediately available supply.
Bitcoin’s Exchange Netflow reached -6,200 BTC on the 4th of September. It later stood at -1,200 BTC.
Both readings indicated net exchange outflows. However, the latest figure showed that the outflow pace had weakened. Even so, reduced exchange supply could support BTC if institutional demand persists.
The Momentum Shift Indicator also suggested that BTC’s broader bullish structure remained intact. Therefore, BTC could reclaim $80,000 before retesting the $82,000 rejection level.
A decisive move above that resistance could create room for further gains. However, continued macroeconomic pressure may extend the correction. In that scenario, $76,200 could become BTC’s next support.
The bigger test is whether steady institutional absorption can overcome weakening short-term participation.
Final Summary
- Morgan Stanley’s MSBT Bitcoin ETF accumulated another 94.56 BTC worth $7.54 million from Coinbase Prime.
- Bitcoin [BTC] bullish structure holds intact despite the retrace, largely held by strong institutional demand.Â
