Bitcoin price prediction: Can BTC reach $90,000?

Bitcoin has held above $85,000 after gaining 12.3% over the past seven days, with improving spot demand and ETF inflows supporting the recovery.

According to Glassnode, spot and perpetual buyers drove the latest rebound, while short liquidations accelerated the move as $BTC recovered from levels near $76,000 last week.

Bitcoin traded near $86,300 on Sept. 22, up around 1% over the previous 24 hours.

The cryptocurrency briefly climbed above $87,000 before retreating, leaving the $86,000 to $87,500 region as the immediate area where sellers have slowed the move.

The rebound has been supported by a change in spot market activity.

According to Glassnode, exchange taker flows moved from net selling to net buying as trading volume increased, indicating that spot buyers participated in the recovery alongside leveraged traders.

US spot Bitcoin exchange-traded funds have provided another source of demand.

Continued inflows could help absorb selling near recent highs, particularly if $BTC remains above $85,000 instead of giving back a large part of its seven-day gain.

According to Glassnode data, Bitcoin’s futures open interest had moved above its historical upper band, while funding rates were elevated and options open interest was close to $41 billion.