Analysts expect trading to remain volatile and range-bound in August as investors assess the prospect of Federal Reserve rate increases, upcoming U.S. employment data and spot Bitcoin exchange-traded fund flows. Bitcoin was trading down 1.13% at $6,3104.1 as of 04:51 ET (08:51 GMT). Bitfinex analysts said Bitcoin entered the latest Fed meeting with less leverage than equities after derivatives positions were cleared during the late-June sell-off. Galaxy Research said 1,082.65 Bitcoin, worth about $70 million, was removed from 1,196 wallets during a 41-minute period on July 30. Tether increased its Bitcoin reserves by 1,796 coins during the second quarter, taking its holdings to 98,933 BTC.