Bitcoin has retreated to the $83,000 region after peaking at $87,402.34 on 21 September, even as US spot Bitcoin ETFs pulled in roughly $2.4 billion in net inflows for the week to 25 September. The pullback looks more like profit-taking than a reversal of the broader rally.
Bitcoin has retreated to the $83,000 region after touching a 21 September high of $87,402.34, even as demand for US spot Bitcoin ETFs stays unusually strong. The contrast suggests the pullback reflects profit-taking rather than a broad exit from the asset.
ETF demand hits its strongest pace since October 2025
US spot Bitcoin ETFs attracted approximately $2.4 billion in net inflows during the week to 25 September, their largest weekly haul since October 2025. The funds recorded seven consecutive sessions of net inflows, pulling in approximately $3 billion over that stretch. That run pushed 2026 net ETF flows back to around $934 million.
BlackRock's IBIT led the buying with around $1.2 billion for the week. Fidelity's FBTC added approximately $701.7 million. ARKB brought in around $294.7 million.
Daily inflows nevertheless slowed as the week went on, dropping from almost $1 billion on Monday. By Friday the figure had fallen to $134.5 million.
Higher yields and a fresh rate hike weigh on sentiment
Bitcoin's retreat is also unfolding against a tougher rate hike backdrop. The Federal Reserve raised interest rates by 25 basis points on 16 September, its first hike since 2023. The US 10-year Treasury yield subsequently climbed to as high as 5.23% on 24 September, its highest level since 2007.
Markets are also pricing in a 66% chance of another 25 basis point rate hike in October. Higher bond yields make interest-bearing assets relatively more attractive, and that dynamic, together with renewed uncertainty over the US-Iran conflict and higher crude prices, is adding pressure on Bitcoin even as ETF buyers keep stepping in.
What comes next for Bitcoin
The $82,814.03-to-$82,035.16 area marks the first key support test, and holding above it would keep the September breakout structure intact. A recovery through the 25 September high at $85,226.96 would improve short-term momentum. A break below support could instead bring the September low at $74,919.36 back into view.
Above the $87,402.34 peak, $90,000 becomes an obvious target. Beyond that, the January high at $97,913.08 and the $100,000 level come into focus. For now, more than $2.4 billion in ETF inflows is acting as a counterweight to the pullback.
Source: IG – News and trade ideas
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