Bitcoin Price Tumbles 0.5% as Institutional Demand Faces Key Test

The Bitcoin price has been trading at $82,925 on September 30, down 0.5% from the previous day.

This comes despite strong institutional demand, with US spot Bitcoin ETFs attracting $2.39 billion in inflows between September 21-25, including a record $999 million on one session.

Glassnode's data shows a dense long-term-holder supply zone around $84,000-$85,000, which could pose a challenge for the price to break above.

The market also faces volatility due to US economic releases, with key indicators such as ADP Non-Farm Employment Change and Core PCE expected to be released on September 30.