Bitcoin holds near $84,000 as ETF inflows extend streak to $2.65 billion

Bitcoin traded just below $84,000 on September 24 after retreating from a recent high above $87,000 earlier in the week. CoinGecko listed Bitcoin at $83,863, noting a 3.8% decline over 24 hours but a seven-day gain of 9.9%. Trading volume remained robust near $42.69 billion, and Bitcoin’s market capitalization stood at approximately $1.685 trillion, reflecting the ongoing volatility in leading digital assets.

Key price movements and resistance levels

BTC’s pullback followed a sharp rally to $87,392 on September 21, the highest price recorded since January 29 this year, according to research firm Bitfinex Alpha. Analysts observed significant market resistance and are closely monitoring support levels that could determine the cryptocurrency’s next direction.

Crypto analyst Rekt Capital commented on September 23 that Bitcoin was experiencing resistance near $86,700. He characterized the selling pressure as “nothing too convincing for the time being.”

Rekt Capital suggested Bitcoin must remain above $82,000 or at least successfully retest that range during any dip for the bullish breakout to continue, stating that the move beyond the previous $60,000–$80,000 range would not be fully confirmed until $80,000 acts as clear support.

Bitfinex Alpha identified the $85,000 to $86,500 zone as the primary recent buyer cost range, with 633,000 BTC last transacted in this area. The team stated that maintaining this range could put $90,000 within reach if strong ETF inflows persist. However, a sustained move below $81,300, particularly with net ETF outflows, would challenge current bullish expectations.

Technical indicators presented a mixed outlook. On the hourly chart, Bitcoin’s Relative Strength Index (RSI) stood at 39.38, and the Money Flow Index (MFI) registered 37.71, pointing to weaker short-term price momentum.

ETF inflows and major buyer activity

U.S. spot Bitcoin ETFs recorded significant net inflows of $346.98 million on September 23, according to SoSoValue. Among them, BlackRock’s iShares Bitcoin Trust (IBIT) attracted $166.29 million, and Fidelity’s Wise Origin Bitcoin Fund (FBTC) brought in $143.24 million.

This marked the fifth consecutive trading session of net inflows, with the five-day streak totaling around $2.65 billion. Notably, investors deposited approximately $999 million into ETFs on September 21, the highest single-day total since October 2025.

Santiment reported that wallets holding 100 to 1,000 BTC acquired 113,950 BTC between July 15 and September 23. The cohort’s aggregate holdings now reach roughly 5.24 million BTC, signaling ongoing accumulation by mid-sized holders.

Corporate buyers contributed to the demand as well. Strategy bought 950 BTC valued at $75.7 million in the week ending September 20, raising its holdings to 846,000 BTC. Strive purchased 1,355 BTC between September 14 and 18.

On derivatives platforms, open interest in Binance Bitcoin futures fell from $5.4 billion to $4.9 billion between September 21 and 23, according to CryptoQuant analyst Amr Taha. Taha cited a reduction in leveraged positions following Bitcoin’s pullback from the $87,000 level. Binance funding rates stood near 0.001%, indicating a neutral stance among traders.

Bitfinex calculated that the proportion of Bitcoin supply held at a profit climbed to 78.2% by September 22, up from 63% just five days earlier. The firm’s analysts noted that keeping this figure above 75% during corrections would be an encouraging sign for market resilience.

The next major price tests identified by Bitfinex include the yearly opening level at $87,722, an ETF investor cost basis around $86,000, and an average entry price for corporate buyers close to $80,500.

Mini dictionary: ETF (Exchange-Traded Fund), a type of security that tracks an asset or group of assets and is traded on exchanges. Spot Bitcoin ETFs allow investors to gain direct exposure to Bitcoin’s price movements without owning the underlying asset.