Weak Ahead: Bitcoin Vs. ‘Red September’, ETF Flows, And NFP Risk

Key market drivers, ETF inflows, and macroeconomic risks set the stage for Bitcoin’s performance in a historically volatile September.

Weak Ahead: Bitcoin Vs. ‘Red September’, ETF Flows, And NFP Risk

Bitcoin trades at a low $107k as ETF outflows and labor data shape the week. Watch weekly closes around 110K and 114K.

Bitcoin is now trading in the low $107,000 to $109,000 range after a pullback from mid-August highs, setting a tight band for the week ahead. ETF flow dynamics and Friday’s U.S. nonfarm payrolls will likely decide whether this range resolves higher or lower. 

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ETF Flows And Rotation

August saw a notable shift in institutional flows, with Bitcoin spot funds recording large net outflows while Ethereum funds drew material inflows. 

One data provider tallied roughly $600M plus in Bitcoin ETF outflows for the month, while Ethereum ETFs were on track for several billion in inflows, and ETH has outperformed BTC over the last 30 days. 

Bitcoin 2

If outflows persist, the mechanical effect reduces bid support at current levels and increases the chance of a deeper test of key supports.

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Technical Map: The $107K–$110K Pivot

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Price action compresses between roughly $107,000 and $110,000, a zone multiple technicians call decisive for the next leg. 

A sustained weekly close above $110,000 would lower immediate downside risk, while a clear break below $107,000 would expose targets near $100K-$103K on several watched models.

Watch volume on any breakout, and treat weekly closes as higher conviction signals.

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Macro Catalyst: Friday NFP Scenarios

The August nonfarm payrolls release occurs Friday, Sep 5, 2025 at 08:30 ET, with consensus around roughly 74K jobs. A hotter print would likely lift the dollar and U.S. yields and increase selling pressure on risk assets, including BTC. 

A softer print would push markets toward easier rate expectations and could spark a relief rally that tests the $114,000 area.

Conclusion

This week is about flows, the 107K–110K technical fulcrum, and the NFP print, not new on-chain fundamentals. Monitor weekly ETF net flows, where weekly closes fall relative to 110K and 114K, Bitcoin price predictions, and the NFP headline and wage detail on Friday.

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