Bitcoin slipped back toward $83,000 today, just four days after climbing to its highest level since January 2026, near $86,000. U.S. spot Bitcoin ETFs recorded around $191 million in net inflows yesterday, September 24, extending their positive streak to six consecutive sessions. In total, the funds attracted more than $2.8 billion over that period.
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Since the start of the year, U.S. spot Bitcoin ETFs have moved back into positive territory, with net inflows of around $787 million. This marks a significant improvement from the end of June, when cumulative outflows stood at roughly $5.5 billion.
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September alone has brought around $2.56 billion in inflows, following $3.52 billion in August. This points to improving institutional demand in the second half of the year, although momentum has clearly weakened over the past three sessions.
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The pace of inflows has slowed sharply. After reaching a 2026 high of nearly $999 million on Monday, flows fell to $714.75 million on Tuesday, $347 million on Wednesday and $191 million on Thursday, representing a decline of around 81% from the start of the week.
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BlackRock’s iShares Bitcoin Trust (IBIT) remains the largest beneficiary, accounting for around $163 million of Thursday’s inflows. Over the full six-session streak, the fund attracted roughly $1.35 billion, or nearly half of total inflows.
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Bitcoin has pulled back from above $87,000 to around $83,000, but it is still up roughly 8% over the past seven days. The decline in daily ETF inflows has therefore coincided with a loss of momentum in the earlier spot-market rally.
Bitcoin, D1 interval
Bitcoin’s technical setup appears to be improving. The daily RSI has cooled to 61 and does not look excessively high despite the strong rebound that has been underway since the final week of August. The cryptocurrency is trading above both the EMA200 and EMA50, confirming continued strength on the bullish side.
Source: xStation5
The EMA200 and EMA50 have formed what is known as a “golden cross.” A similar setup was last seen in early 2023, when Bitcoin was returning to a sustained bull market. The price has pulled back today below the 38.2% Fibonacci retracement of the latest upward move. Beyond the area around $86,000, the next major resistance appears to be near $100,000, where the 61.8% Fibonacci retracement is also located. Key support remains in the $75,000–$77,000 area.
Source: xStation5
What do the on-chain data tell us?
Bitcoin demand, measured across both spot and futures markets, remains negative, but the situation is beginning to improve. Spot-market outflows are becoming smaller, while futures demand is increasing, allowing total demand to gradually recover from earlier lows.
At the same time, BTC prices have started to rise, suggesting that the earlier weakness may be fading. Total demand is still below zero, but the direction of change is becoming increasingly positive. If this trend continues and spot demand returns above zero, it could become a signal of a stronger move higher.
Source: CryptoQuant
Bitcoin outflows from Binance have accelerated alongside the latest price gains. The average weekly net flow stands at around -2,000 BTC, while more than 13,800 BTC were withdrawn from the exchange in a single session, the largest daily outflow since 2023. Over four days, Binance’s BTC reserves fell from around 705,000 BTC to 685,000 BTC.
Such a move may suggest that some investors are transferring Bitcoin from exchanges to private wallets, which is often associated with a longer-term holding approach and therefore potentially lower near-term selling activity. A smaller amount of BTC held on exchanges also means lower potential selling pressure.
This change comes at a time when Bitcoin remains above several previously important technical levels. It may point to growing accumulation and renewed interest from investors who had previously been waiting for a deeper correction. Exchange outflows alone do not guarantee further gains, but when combined with a rising price, they can be interpreted as a sign of improving market sentiment.
Source: CryptoQuant
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