Bitcoin back to $84,000! ETF sees 8 consecutive days of net inflow, Strategy also makes additional purchases

▲ Strategy (MSTR), Bitcoin (BTC), Dollar (USD)/AI generated image ©

Bitcoin (BTC) is attempting a rebound from its recent correction, reclaiming $84,000. With US spot Bitcoin ETFs seeing 8 consecutive trading days of net inflow, Strategy making an additional purchase of 1,665 BTC, and the intensity of profit-taking, which surged last week, now decreasing, the question of whether selling pressure will ease has emerged as a key factor for further upside.

According to investment media FXStreet on September 29 (local time), BTC rebounded to $84,088 on Tuesday after a slight dip the previous day. According to SoSoValue, US spot Bitcoin ETFs saw a net inflow of $31.07 million on Monday. Following last week's largest weekly net inflow since October 2025, funds have flowed in for 8 consecutive trading days since mid-September, indicating continued buying demand from institutional investors.

Corporate buying is also supporting the price. Michael Saylor announced on Monday that Strategy acquired an additional 1,665 BTC, following its purchase of 950 BTC last week. This increases the company's Bitcoin holdings to 847,666 BTC. Strategy's renewed active BTC accumulation, after focusing on liquidity acquisition during the summer, is also considered a factor supporting the market's bullish outlook.

However, profit-taking remains a concern. Last week, BTC's profit-taking activity surged to its highest level since December 12, 2025, limiting upward momentum. Santiment's Network Realized Profit/Loss (NPL) metric also surged again on Monday, indicating that holders are realizing significant profits. However, this increase was smaller than the two surges seen last week, suggesting a potential easing in the intensity of profit-taking.

Technically, a short-term bullish structure is maintained. BTC is significantly above all its 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), which are clustered between $74,100 and $77,500. The daily RSI (Relative Strength Index) is at 62, remaining in bullish territory without entering the overbought zone, and the MACD (Moving Average Convergence Divergence) histogram has flattened. This analysis suggests that it's more of a temporary pause in upward momentum rather than a clear trend reversal.

On the upside, $85,000 is the first major resistance level. If BTC breaks this price on a daily closing basis, further upward potential could open up. Conversely, if it declines, the 50-day EMA at $77,586 serves as the first support, followed by the 100-day EMA at $74,130 and the 200-day EMA at $74,350, which form key demand zones. If ETF and corporate buying continues and profit-taking also slows down, whether BTC breaks $85,000 will be a critical variable determining its next upward phase.

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