Bitcoin Breaks $84K Barrier as ETF Demand Returns and Shorts Unwind

The price of Bitcoin surged past $84,000 on Monday as buying pressure continued from the previous weekend.

According to CoinGecko data, BTC traded at around $85,200 during Monday's session, representing a 6.1% increase over 24 hours.

This move followed renewed U.S. spot Bitcoin ETF inflows and a squeeze against bearish derivatives positions.

Fidelity's FBTC captured the most inflows before the weekend breakout, with $310.7 million of the total $324.6 million in net inflows recorded on September 18.

Galaxy Research had identified the 50-week moving average as a major Bitcoin bear-market ceiling, but BTC has now moved above this level.

The next verifiable checkpoint comes with the next weekly close, where traders can assess whether Bitcoin holds above the reclaimed trend level and prior high.