ETF Inflows Can't Break Through $84K Resistance Zone
Bitcoin's price slipped to around $83,116 on September 28, despite a significant influx of capital into US spot Bitcoin ETFs. The total inflow for the week was $2.39 billion, marking the strongest weekly inflow since October 2025. This increase in demand has not yet broken through the current resistance zone.
The large long-term-holder supply zone identified by Glassnode is between $84,000 and $85,000, a level that Bitcoin has moved above but still struggles to hold. To confirm fresh demand absorbing existing supply, Bitcoin needs to reclaim the $87,000-$88,000 range. A sustained break through this resistance could put $96,700 into focus.
The Federal Reserve's recent policy rate hike and continued restrictive financial conditions may also be limiting Bitcoin's price action. While institutional demand is strong, as evidenced by the ETF inflows, the market has not yet confirmed a clean breakout.