ETF Demand Collapses as Bitcoin Stuck in $84K Range

Bitcoin has been stuck in a tight range around $84,000 for seven sessions, and its market cap sits at $1.68 trillion.

The chart is compressing, with price oscillating between $82,000 and $87,000, which has proven to be a pivot point since the September 21 breakout.

Despite this range-bound behavior, the realistic expectation for the rest of the week is that price will move within this range, between $82,000 and $87,500, with $85,000 being the key level to watch.

The ETF bid remains strong, with $2.39 billion in net inflows over the past week, led by the iShares Bitcoin Trust, which absorbed $381.4 million on Monday alone.

However, the trajectory of these flows is concerning, as daily demand declined every day of the record week, from a high of $999 million to just $134 million by Friday.