Bitcoin Holds Near $86,000 as ETF Inflows Slow
Bitcoin is maintaining a position near the $86,000 mark after U.S. spot exchange-traded funds (ETFs) experienced a third consecutive week of net inflows. Despite this positive trend, daily creations have slowed, and sellers are actively defending the area just above $87,000.
The largest cryptocurrency was trading at $85,790 early Monday, up 1.05% on the session. The day’s range extended from $85,444 to $86,930, with a market value nearing $1.72 trillion and about $19.8 billion in trading volume over 24 hours. Bitcoin remains significantly below its 52-week high of $126,198, as per CoinGecko data.
Institutional inflows continue to drive up Bitcoin’s price, making it less accessible for small investors seeking wealth preservation. The volatile price band is trapping retail traders, exposing leveraged positions to sudden losses near the $87,000 resistance level. The modest growth in ETFs is also failing to broaden crypto participation, reinforcing wealth gaps between large funds and everyday users.
Data from Farside Investors shows that U.S. spot Bitcoin ETFs took in $2.39 billion in the week ended September 25 and an additional $82.9 million in the week ended October 2. This marks three consecutive weeks of net inflows, although the latest week’s inflows were significantly smaller than the late-September surge. Notably, BlackRock’s fund data for October 2 was incomplete, suggesting potential revisions.
The week ending September 25 saw the strongest inflows since the run-up to last October’s peak, with daily net inflows ranging from $134.5 million to $999.0 million. The following week was more subdued, with net outflows on September 30 ending a nine-session inflow streak. October opened with positive inflows, led by BlackRock’s IBIT fund, but offset by outflows from Fidelity’s FBTC.
Bitcoin’s price has stalled under $87,000 as the macroeconomic backdrop remains uncertain. The coin pushed toward $87,100 on October 2 but slipped back, leaving leveraged longs exposed. Traders are treating $86,000 to $88,000 as near-term supply and $82,000 to $84,000 as the first area of demand. A daily close above $88,000 would put $90,000 back in view, while another failure would keep the mid-$80,000s as a range rather than a base for a new leg higher.