Bitcoin Consolidates Near Recent Highs Amid $2.95B ETF Inflows
Bitcoin traded at $83,429 with a modest intraday gain, reflecting a slight positive shift in sentiment. The asset currently sits below its key short- and medium-term moving averages, while remaining supported above its major long-term average.
The U.S. spot Bitcoin ETF recorded $2.95 billion in net inflows over the past 30 days, showing sustained institutional allocation. BlackRock's iShares Bitcoin Trust led with a $51.09 million inflow on September 29, contributing to total ETF inflows of $66.19 million for the day.
Technical signals weigh on BTC as sellers dominate below resistance, but the asset remains above its daily MA-200 at $71,300, suggesting underlying long-term support. Over the next 2-3 trading days, BTC is projected to consolidate within a typical volatility band of $81,872 to $85,185.
Institutional demand remains a key theme as U.S. spot Bitcoin ETFs attracted $2.95 billion in net inflows over the past 30 days, expanding buy-side liquidity and reinforcing appetite for Bitcoin as an investable asset.