Bitcoin Price Inches Higher on Record Interest in Risk Asset
Bitcoin (BTC) price inched higher to $84,508.13 after falling below the $84k mark, closely tracking about a 1% rise in the total crypto market cap, driven by sustained institutional demand for spot Bitcoin ETFs.
Spot Bitcoin ETF inflows extended to a seven-day streak, with nearly $3 billion in net buying since September 17, providing direct buy-side pressure.
U.S. spot Bitcoin ETFs recorded their seventh consecutive day of net inflows on September 25, bringing the weekly total to about $2.98 billion.
This reversal from outflows earlier in the month represents renewed institutional buying, lifting the average ETF holder into profit above the $81,722 cost basis.
Consistent ETF demand acts as a structural bid beneath the market, absorbing supply and supporting prices.
Daily flow data: a return to outflows or a drop below $100 million in daily inflows could signal weakening institutional conviction.
Bitcoin liquidations over the past 24 hours totaled $8.72 million, an 85.71% drop from the prior period. Meanwhile, the average funding rate remains positive at 0.0043%, indicating persistent but not overheated bullish leverage.
The absence of large, cascading liquidations has removed a source of violent selling, allowing the market to drift higher on steady spot buying. A sharp spike in open interest alongside extreme funding rates, which could precede a volatile squeeze.
The immediate technical structure shows Bitcoin trading just above the 50% Fibonacci retracement level at $84,215, with the 7-day Simple Moving Average at $84,403 providing nearby support.
The next major macro catalyst is the revised Core PCE inflation report due September 30; analyst Tom Lee suggests it could show lower inflation, potentially easing Fed hawkishness.
If Bitcoin holds $84,215, a retest of the swing high at $84,610 is likely. A break below risks a move to the next key support at the 61.8% Fib level of $84,122.
The near-term bias is cautiously bullish, contingent on holding key support and a favourable macro data print.
Bitcoin’s modest gain is underpinned by steady ETF inflows and a calmer derivatives landscape, laying the groundwork for further upside if macro conditions cooperate.
Bitcoin gained 43.5% in Q3 2026, marking its second-strongest third quarter on record, surpassed only by 2017. The rally was driven by sustained ETF inflows, a jump in spot trading volume, and lighter-than-usual profit-taking during a historically quiet period.
The asset successfully navigated a major quarterly options expiry and now faces its next key resistance near the $96,700 level.
This is bullish for Bitcoin because it demonstrates robust institutional demand through ETFs and a holding mentality among investors, providing a solid foundation for Q4, which has historically been strong for crypto. The ability to absorb supply without major sell-offs suggests underlying strength
