Bitcoin Holds Near $84K as Whales Accumulate and ETF Inflows Continue

Bitcoin has maintained its price near $84,000 despite failing to sustain moves above $87,000 twice this week. The cryptocurrency's current pause follows a sharp reversal from September 16, when the Federal Reserve raised its target rate by 25 basis points to 3.75%, 4.00%. This move and the Senate cloture on the CLARITY Act's failure had briefly sent Bitcoin's price near $75,000 before it recovered above $80,000.

The latest rejection came from the 86,000-87,000 zone, which has now stopped the price more than once. Crypto analyst Ali Martinez reported that large entities accumulated approximately 30,269 BTC during a 96-hour period, worth roughly $2.57 billion at the prices used in his calculation.

U.S. spot Bitcoin ETFs recorded another $191 million in net inflows on September 24, extending their positive streak to six trading sessions, according to SoSoValue data. BlackRock's IBIT led the session with approximately $163 million, while Fidelity's FBTC received $12.86 million.

Exchange balances have moved in the same direction as large-wallet accumulation. CryptoQuant contributor Darkfost reported more than 13,800 BTC in net withdrawals from Binance during a single day, the exchange's biggest daily net outflow since 2023.