Bitcoin hovers near $83,000 as ETF inflows fail to offset macro pressure

  • Bitcoin traded near $83,960 after retreating from a recent high above $87,000.
  • Bitcoin fell 0.61% during the session and remained above four key moving averages.
  • U.S. spot Bitcoin ETFs received $134.5 million in net inflows Friday.

Bitcoin traded near $84,000 on Sept. 28 after retreating from a recent high above $87,000, leaving traders focused on whether demand for U.S. spot Bitcoin ETFs can support its September breakout. The Binance daily chart showed Bitcoin near $83,960, down 0.61% for the session, though it remained above its 20-day, 50-day, 100-day and 200-day simple moving averages. Lacie Zhang, research lead at Bitget Wallet, attributed the pullback to profit-taking, reduced leveraged long positions, firmer U.S. Treasury yields and a stronger dollar, with energy prices and geopolitical risks adding pressure. The move follows $531.47 million in liquidations across 143,870 traders, even as U.S. spot Bitcoin ETFs received $134.5 million in net inflows Friday and $2.39 billion during the week ended Sept. 25.

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