Bitcoin struggles to break above $87,700 resistance as spot ETF inflows collapse 90% week-over-week and futures leverage declines.
Macro & Markets ·
Bitcoin is trading near $84,000 after three unsuccessful attempts to surpass its yearly open of $87,700, with weakening spot demand pressuring the move higher. US spot Bitcoin ETFs received only $241.1 million in inflows between September 28 and October 2, representing a 90% decline from the prior week, while futures open interest fell to approximately 625,000 BTC—its lowest since January 1. According to analysis, the $86,000 level represents critical resistance, with potential consolidation between $84,000 and $87,700, though a sustained break below $81,300 could expose support near $77,000.