Bitcoin Holds Steady Above $83K as NEAR Surges on Strong ETF Demand
The price of Bitcoin (BTC) held above $83,000 on Thursday after giving back some gains following lower-than-expected US inflation data. The September monthly and third-quarter close saw a brief bout of volatility for BTC/USD before it returned to flat trading according to Coinbase data.
Near Protocol (NEAR) continued its rally, extending gains by 3% on Thursday, after the previous day's 9% rise. This was partly due to the launch of the Near-focused Bitwise Exchange-Traded Fund (ETF), which saw nearly $50 million in inflows over two trading sessions.
The technical outlook for NEAR suggests an upside bias as momentum remains bullish despite concerns that it may be overbought. Ethereum (ETH) and XRP also struggled to regain momentum, with ETH trading below $2,700 and providing immediate support at $2,600.