Bitcoin News Today: Bitcoin ETFs Face $1.17B Outflows, But Pompliano Says BTC Is Oversold and Ready to Rebound

Key TakeawaysSpot Bitcoin ETFs logged $1.17 billion in outflows across five trading days — their longest losing streak since April.Bitcoin price slipped below $113,000, down nearly 5% in the past month.Anthony Pompliano says BTC looks “oversold” and expects a rebound heading into September and October.Historical trends show Q3 is Bitcoin’s weakest quarter but Q4 is typically the strongest, averaging +85%.Pomp doubts BTC hits $1 million this cycle, but remains long-term bullish.Bitcoin ETFs Extend Five-Day Outflow StreakSpot Bitcoin ETFs in the U.S. recorded $1.17 billion in cumulative outflows over the past five trading sessions, according to Farside and CoinMarketCap data. This marks their longest losing streak since April, when BTC was trading around $79,600.The pullback comes just over a week after Bitcoin reached a new all-time high of $124,128 on Aug. 14, highlighting renewed volatility. At press time, BTC was trading near $112,870, down 4.98% over the last 30 days.Pompliano: Bitcoin Looks “Oversold” at $112K–113KCrypto entrepreneur Anthony Pompliano said on CNBC that Bitcoin’s current levels represent a potential buying opportunity.“Right now at 112, 113,000, it is pretty oversold,” Pompliano said.He pointed to seasonality: traders typically return in September and October, which historically coincides with higher volumes and stronger price action.Historical Trends: Weak Q3, Strong Q4Since 2013, data from CoinGlass shows:Q3 average return: +6.02% (Bitcoin’s weakest quarter)Q4 average return: +85.42% (its strongest quarter)Pompliano noted that traders often act on these expectations, helping to reinforce the Q4 rally narrative.Long-Term Bullish, But No $1M YetWhile optimistic about Bitcoin’s rebound later this year, Pompliano cast doubt on the idea of BTC hitting $1 million in the current cycle.He argued that speculation around the Sept. 17 Federal Reserve rate cut and corporate treasury purchases of Bitcoin could add upward pressure. Still, he sees the million-dollar milestone as a future event, not an imminent one.“Bitcoin will definitely go to one million at some point in the future, but I just think this cycle it is very unlikely,” he said.His comments came one day after Coinbase CEO Brian Armstrong said BTC could reach $1 million by 2030.Bitcoin is facing its sharpest ETF outflow streak in months, but analysts like Pompliano argue the market is oversold and due for a recovery. With historical seasonality and potential macro catalysts like a Fed rate cut ahead, the spotlight is now on whether Bitcoin can reclaim momentum as Q4 approaches, according to Cointelegraph.