Bitcoin’s path above $87,000 hinges on return of ETF inflows

Bitcoin‘s momentum has stalled, but a return of strong spot ETF inflows could be the catalyst needed to push the price decisively above $87,000.

After a strong September surge, Bitcoin has entered a period of choppy, range-bound trading with little net price movement over the past two weeks. Market observers note this consolidation is typical of a stair-step rally and could soon resolve with a breakout.

The key driver for such a move, according to analysis, is a renewed influx of capital into U.S. spot bitcoin ETFs. These funds attracted approximately $2.6 billion in September, with a single week in late September accounting for $2.39 billion of that total. Daily inflows peaked near $1 billion on September 21.

Since that peak, demand has cooled significantly. ETFs drew $241 million last week and just $28 million so far in the current week. The current price action suggests the powerful ETF-driven bid that fueled September’s rally has not yet returned.