Bitcoin Holds Near $84K Amid Renewed Institutional Demand
Bitcoin's price hovered around $84,000 on Thursday as institutional demand and macroeconomic factors balanced out. The cryptocurrency market saw renewed interest from institutions, with US spot Bitcoin ETFs recording strong inflows in September.
Vikram Subburaj, CEO of Giottus, noted that this influx of capital supported Bitcoin's recovery, but warned that spot demand has moderated in recent sessions.
Avanish Shekhar, Co-Founder & CEO of Pi42, said the move above $84,000 is encouraging, and sustaining this level could allow Bitcoin to test the 86,000 - 88,000 zone in the near term. However, he emphasized that the market will continue to take cues from US monetary policy expectations, institutional flows, and broader risk sentiment.
Nischal Shetty, Founder of WazirX, pointed out that despite weaker momentum signals, Bitcoin trades near $83,461 in a constructive daily consolidation, supported by bullish moving averages.