Bitcoin ETF Inflows Hit $433M as BTC Price Tests Major Resistance
The influx of money into Bitcoin exchange-traded funds (ETFs) has reached $433 million as institutional demand returns to the market. This surge in investment comes after two heavy withdrawal days, where investors pulled out a combined $746.3 million from the funds. Fidelity's FBTC ETF led the session with $310.7 million in inflows, while BlackRock's IBIT followed with $108.4 million.
The price of Bitcoin has also reclaimed $81,000 after a recent dip below $77,000. However, it still faces resistance at the $83,000-$86,000 level identified by Glassnode through cost-basis and derivatives data. This resistance band is significant as it represents a major overhead supply zone where investors acquired around 1.07 million BTC.
The current rally brings Bitcoin closer to this key resistance area, with the price trading near $81,174 on Sept. 19. The derivatives positioning has increased, and futures activity is elevated alongside the price recovery. Higher open interest can amplify volatility when the price reaches concentrated liquidation areas.