Bitcoin is back above $84,000 on Monday, trading near $84,050 after a brief dip to about $83,500 earlier in the day. The move is up about 1.3% in 24 hours and comes close to Sunday's high near $84,145, showing buyers are defending the recovery after last week's sharp sell-off.
The rebound happened even though U.S. spot Bitcoin ETFs lost about $681 million last week, their biggest weekly outflow since June, according to SoSoValue data reported by CoinDesk. Most of that selling came on Wednesday and Thursday, so traders are watching closely to see if the outflow streak now slows down.
Falling oil helped the mood. WTI crude slipped about 1.8% to around $90.28, easing some of the macro pressure that hurt crypto last week. The recovery was broad: nine of the top ten coins rose in 24 hours, with Avalanche up about 5.1% to near $10.91, Chainlink up about 2.4%, Solana up about 1.2%, and Ether trading near $2,565. Reports also pointed to heavy short covering, with tens of millions of dollars in short positions unwound as price pushed above $84,000.
For traders, two levels matter most now. Analysts call $82,000 the key support — holding above it keeps the recovery alive. On the upside, $85,000 is the big resistance; a clean break above it could open the way toward $86,500 and the recent highs near $87,000, while rejection there would keep Bitcoin stuck in its recent range.
The next big test is U.S. inflation data due on October 14, which could move both the Federal Reserve outlook and crypto prices. Until then, ETF flows and oil prices are likely to drive sentiment, and volatility can return quickly if either turns against buyers again.
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: CoinDesk, CoinGecko, Crypto Times
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