Bitcoin slipped back below USD 120,000 after a volatile session on Monday. Its push toward its previous high faced strong profit-taking, although the market remained on a positive course.
Market participants could remain cautious and could expect more turbulence with upcoming U.S. CPI and PPI reports, which could further fuel price swings.
Slower inflation could confirm the dovish monetary policy expectations and could support the market further.
At the same time, capital is still flowing into Bitcoin ETFs, which recorded USD 253 million in inflows on Monday. While inflows slowed compared to Friday and to the large volumes seen in July, they remain positive after a short period of outflows at the beginning of the month, and stronger inflows could help the market continue rising.
In comparison, Ethereum ETFs drew much stronger interest with more than USD 461 million in inflows on Monday. Additionally, corporate adoption remained on the rise, as Metaplanet added 518 BTC to its treasury, providing more support to the market as the trend continues.
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