Bitcoin Rally Leans on Spot Demand as ETF Inflows Reach $2.38 Billion
Bitcoin rose from about $57,803 on July 1 to an intraday high of $87,392 on Sept. 21, with resistance concentrated near $84,000 to $86,500.
Bitcoin (BTC) has climbed from about $57,803 on July 1 to an intraday high of $87,392, placing the rally against a major resistance zone and shifting attention to the strength of spot-market demand.
The key area extends from $84,000 to $86,500. More than 650,000 BTC is concentrated specifically between $85,000 and $86,500, creating a substantial cost-basis area between the July low and the cycle high.
U.S. spot Bitcoin exchange-traded funds recorded $2.38 billion in weekly inflows, the largest weekly total since October 2025. The inflows strengthened as Bitcoin futures leverage declined, leaving the advance more dependent on outright spot purchases.
A sustained close below $81,300 combined with renewed ETF outflows could expose support near $77,000. A move above the $84,000-$86,500 zone would bring the yearly open near $87,722 and a larger resistance area near $96,700 into view.
Bitcoin’s third-quarter advance followed declines of 22.2% in the first quarter and 14.09% in the second quarter. The quarterly move has also occurred while Treasury yields remained elevated, adding to the market’s focus on whether spot demand can absorb selling from holders near breakeven.
The Fed lifted its policy-rate range by a quarter point to 3.75%-4% on Sept. 16. Officials are scheduled to meet again Oct. 27-28.
