Bitcoin Faces Mid-$80K Resistance as ETF Demand Remains Strong

Bitcoin is trading near $84,600 after rebounding sharply from last week's sub-$76,000 low. Despite this recovery, the next move may depend on whether buyers can clear resistance in the mid-$80,000s.

BTC has recovered strongly over the past week and recently traded above $87,000 before pulling back. Current price action leaves Bitcoin between support around $83,000-$84,000 and the recent high near $87,300.

Institutional demand is still helping the bullish case, with U.S. spot Bitcoin ETFs recording $190.7 million of net inflows on September 24, following several strong sessions earlier in the week, according to Farside Investors.

Bitcoin's short-term structure remains constructive, but the recent rejection above $87,000 shows that buyers still face meaningful supply. Initial resistance levels are around $85,300 and $86,100, with the recent swing high near $87,300 acting as the main breakout level.