Bitcoin Consolidates Above $84K as Ethereum Holds Key Support Zone

The Bitcoin price has been consolidating after reaching a recent peak near $86,800. The asset is currently trading around $84,910.99, with a 60% decrease in volume compared to previous weeks.

The institutional backdrop for Bitcoin remains strong, with U.S. spot ETFs holding about $109.3 billion in combined assets after attracting roughly $6.3 billion during Q3. BlackRock's IBIT added another $195.6 million in one session, taking its reported monthly accumulation to $1.57 billion and its holdings above 800,000 BTC.

Ethereum is also receiving institutional support, with U.S. spot ETH ETFs recording $689.9 million in net inflows in the week ending September 25. The new 3x leveraged Ether products give traders another regulated vehicle for ETH exposure.