Bitcoin Retreats to $83,000 as ETF Inflows Slow

Bitcoin retreated to around $83,000 today after climbing to nearly $86,000 four days ago. This dip comes despite strong net inflows into U.S. spot Bitcoin ETFs, which reached $191 million yesterday and have now extended their positive streak to six consecutive sessions.

The funds have attracted more than $2.8 billion over the past week, with September alone bringing in around $2.56 billion in inflows, following $3.52 billion in August.

BlackRock's iShares Bitcoin Trust (IBIT) is the largest beneficiary, accounting for approximately half of total inflows at $1.35 billion.

The decline in daily ETF inflows has coincided with a loss of momentum in the earlier spot-market rally, but Bitcoin remains up around 8% over the past seven days.