CoinDesk
Bitcoin may need a fresh wave of spot ETF buying to break above $87,000. U.S. spot bitcoin ETFs attracted roughly $2.6 billion in September, including about $2.39 billion in the week ended Sept. 25. Inflows peaked near $999 million on Sept. 21, but slowed to $241 million last week and just $28 million so far this week.
Why it matters
The slowdown leaves a gap between the institutional demand that helped drive September's rally and the buying needed to push Bitcoin through resistance. Oliver Carding of Tesseract Group said several sessions with roughly $300 million or more in ETF inflows would signal that institutional demand was returning. He described that figure as his own threshold, not a market-wide benchmark.
DWF Labs' Martin Lee cautioned against reading too much into daily flow streaks. He noted that 93 of 190 trading days this year were negative for flows, even as ETFs still recorded net inflows of $1.2 billion. In his view, weekly and monthly totals are more meaningful than any single session.
Market impact
The near-term question is whether ETF demand recovers enough to offset renewed macro pressure. The seed also points to other buyers accumulating during weakness, with Wincent's Paul Howard saying some investors are using pullbacks to dollar-cost average and that many market participants continue to target Bitcoin above $100,000.
For traders, sustained ETF inflows would provide evidence that institutional buying is returning; a few isolated positive days may be less informative. Separately, the ether-to-bitcoin ratio has slipped below the Ichimoku Cloud, a bearish momentum signal for Ether relative to Bitcoin if the breakdown holds. Its cited support is 0.03059, the level drawn from the Sept. 4 low.
Frequently asked questions
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How much did U.S. spot Bitcoin ETFs attract in September?
They attracted roughly $2.6 billion. About $2.39 billion came in during the week ended Sept. 25.
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What ETF inflow level would one analyst view as a sign of returning demand?
Oliver Carding said several sessions with roughly $300 million or more in inflows would be an important signal. He described this as his own threshold, not a market-wide benchmark.
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Why does DWF Labs caution against focusing on daily ETF flows?
Martin Lee said daily flows can be volatile. He noted that 93 of 190 trading days were negative this year even as ETFs recorded net inflows of $1.2 billion.
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What other source of buying interest is mentioned?
Wincent's Paul Howard said some investors are using periods of weakness to accumulate and dollar-cost average, while many market participants continue to target Bitcoin above $100,000.
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What does the ether-to-bitcoin ratio's move below the Ichimoku Cloud indicate?
It signals a bearish shift in Ether's momentum against Bitcoin if the breakdown holds. The cited support level is 0.03059, drawn from the Sept. 4 low.
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