# Bitcoin Faces $96,700 Resistance as ETF Inflows and Volume Rise

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/24226
Published: 2026-09-25T17:12:33.000Z
Updated: 2026-09-25T17:12:33.000Z
Section: Investing

> Bitcoin traded at $83,877 Friday as spot volume more than doubled from its August low and U.S. spot Bitcoin ETFs posted nearly $1.4 billion in inflows over two sessions.

Bitcoin (BTC) traded at $83,877 Friday as stronger spot-market activity and renewed U.S. spot Bitcoin ETF inflows supported a recovery through key on-chain cost-basis levels, with resistance near $96,700 now in focus.

The price was recorded at 1:05 p.m. ET (17:05 UTC) on Sept. 25. The largest nearby concentration of long-term-holder supply was between $84,000 and $85,000, leaving the market close to a key area where existing holders may influence trading activity.

The analysis identifies $96,700 as the next major on-chain resistance, based on the mean market-value-to-realized-value price. Bitcoin’s realized price measures the aggregate on-chain cost basis of circulating coins, while MVRV compares the market value of those coins with that cost basis. The mean MVRV price marks a level where average unrealized gains move back toward a longer-term norm.

Bitcoin has not closed below realized price during the 2026 downturn.

Spot trading volume had more than doubled from its August low through Sept. 22. U.S. spot Bitcoin ETFs recorded net inflows of $999 million on Sept. 21 and $364.4 million on Sept. 22. Their cumulative net inflows were listed at $56.593 billion.

Profit-taking remained limited while ETF buying increased and altcoin prices rose without a large increase in leverage, supporting the broader improvement in market conditions.

Bitcoin also faced a major options expiry on Sept. 25, but the available estimates differed. One estimate covered about 167,000 contracts with a notional value of $14.04 billion, a 0.87 put-call ratio and a maximum-pain level of $79,000. A separate estimate based on another dataset placed the expiry at approximately 182,000 Bitcoin options worth about $15.6 billion, including roughly 106,200 calls and 75,900 puts, with maximum pain at $76,000.

The figures are conflicting estimates from separate datasets, not a single confirmed market-wide total. Options expiries can influence short-term price action as dealers adjust hedges and market exposure changes around option strikes.