Bitcoin (BTC), the largest cryptocurrency, bottomed at $107,000 as investors are losing interest in BTC ETFs. Meanwhile, Bitcoin OI on exchanges is targeting $40 million in equivalent.
Bitcoin (BTC) hits local bottom at $107,000
Bitcoin's (BTC) price recovered today after hitting a local low at $107,000 on some exchanges. Yesterday, on Sept. 1, 2025, Bitcoin (BTC) dipped below $107,500 on CoinGecko.
Image by CoinGecko
After touching the lowest level in two months, Bitcoin's (BTC) price is recovering. At printing time, the orange coin is changing hands at $110,900, attempting to stay above the critical level of $110,000.
Bitcoin's (BTC) trading volume dropped to $46 billion in equivalent. In the last 24 hours, $74 million in Bitcoin (BTC) positions were liquidated, with $37 million being long.
Bitcoin dominance (BTC.D) is down by 3% overnight:
- Bitcoin dominance: 57.8%
- Ethereum dominance: 13.8%
- Other cryptocurrencies: 28.4%
Right now, BTC.D is losing traction as liquidity flows into altcoins.
Bitcoin ETFs losing steam: Inflows shrinking for two months
Spot Bitcoin ETFs in the U.S. reflect the pessimism of long-term investors. Starting in mid-July, the volume of inflows into Bitcoin-based exchange-traded products has been plummeting.
The Sept. 1, 2025 session was positive, but only brought $192 million in inflows to all Bitcoin ETFs combined. IBIT and FBTC traditionally were among the most active funds.
Image by Bitbo
With $83 billion allocated in the total market cap, BlackRock’s IBIT is the seventh largest ETF in the U.S. only surpassed by TradFi heavyweights VOO, IVV, QQQ, GLD, SPY, XLK.
In total, the segment’s AUM dropped to $142 billion compared to the $155 billion mid-August peak. During this period, Ethereum ETFs' market cap increased from $22 billion to $24 billion.
Bitcoin (BTC) open interest close to $40 billion, gives bulls hope
Bitcoin's open interest, i.e., the total value of opened futures (contracts) on derivatives exchanges, is also recovering.
Image by CoinAlyze
In the last hours, it almost surged to $40 billion in equivalent, which is close to weekly highs. This is an indicator of growing volatility coming combined with investors showing interest in the asset.
With its ups and downs, Bitcoin's (BTC) open interest has remained relatively high in recent months. To provide context, a year ago it was sitting at $15-16 billion.
Accompanied by notable institutional flow, this is yet another signal that Bitcoin's (BTC) bull rally peak might not yet be in. Normally, Q4 of the post-halving year marks the peak stage of the cycle.
WLFI makes controversial debut on exchanges
WLFI, a cryptocurrency token by World Liberty Financial, debuted on centralized exchanges yesterday, Sept. 1, 2025. Immediately upon listing, its price jumped above $0.3, phishing market capitalization to unbelievable $8.26 billion. WLFI appeared on all Tier-1 centralized exchanges and some minor platforms.
Today, the WLFI price stabilized around $0.22. WLFI is the 27th largest cryptocurrency by market capitalization as of now. Its fully diluted valuation exceeds $22 billion.
At the same time, the launch faced much criticism from the cryptocurrency community. A total of 80% of the token's supply remains locked with no accurate vesting schedule. As such, the WLFI supply is too concentrated and is prone to manipulations.
WLFI's launch already allowed its team and beneficiaries to earn $5-6 billion.
No, Venus Protocol was not hacked for $30 million
Today, in the early morning hours, a rumor started spreading about Venus Protocol, a popular DeFi platform, being drained for $30 million. However, shortly, security researcher PeckShield debunked this theory.
Instead, a Venus Protocol user lost $27 million, being hit by a phishing scam. The trader mistakenly approved a malicious transaction, granting token approval to the attacker's address for the asset transfer.
As the cryptocurrency market is still in its bullish phase, scammers' activity surges. As covered by U.Today previously, malefactors drained Bunni DeFi for $2.4 million today.
The exchange is built on Uniswap v4 code. The Bunni DEX team froze all activity on the protocol while the investigation was ongoing.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team