Bitcoin Reclaims $84k Amid ETF Inflows and Corporate Buying
Bitcoin has reclaimed the $84,000 mark after a modest decline on Monday. The price of BTC rose to around $84,300, leaving it within reach of the $85,000 resistance level.
The recovery follows strong inflows into US spot Bitcoin exchange-traded funds (ETFs). According to CoinGlass, these ETFs attracted $31 million in net inflows on Monday, marking the eighth consecutive trading day of positive flows. However, the amount was modest compared to the previous week's larger gains.
The funds have been experiencing a streak of positive flows, with approximately $2.4 billion being drawn in during the week ending September 25. This buying helped reverse the funds' year-to-date net outflow and provided a source of demand during Bitcoin's advance above $85,000 last week.
Corporate buying also continued alongside ETF demand, with Strategy disclosing that it acquired 1,665 BTC for approximately $142.7 million between September 21 and 27. This purchase raised its holdings to 847,666 BTC, making it the largest public corporate Bitcoin treasury by a wide margin.