ETFs' Nine-Day Buying Spree Ends: Can Bitcoin Rally at $190M Daily Inflows?

Bitcoin's recent price action has been hindered by the end of a nine-day inflow streak in spot Bitcoin ETFs, which had brought in a total of $3.08 billion.

The funds' daily purchases would need to rise to about $190 million to overcome the selling pressure facing the price, according to Bitfinex analysts.

After U.S. inflation came in below expectations on Wednesday, Bitcoin rose above $85,000 but failed to sustain its gains. The BAER indicator, tracked by Bitfinex analysts, showed a significant decline in demand, with daily net inflows peaking at about $1 billion on September 21 and then gradually decreasing.

A total of 1.39 million BTC is held by investors approaching their breakeven point in the area analysts are watching ($84,000-$86,500). If the price reaches this area, investors who have recovered their losses may be inclined to sell.