Bitcoin Price Prediction: BTC Holds $86,000 as Sustained ETF Inflows Could Push It Past $90,000

TradingKey - As of the Asian session on September 23, Bitcoin (BTC) price continued its recent strong performance, with the latest price trading near $86,500, up about 0.3% on the day. Bitcoin reached a high of $87,395 this Monday, setting a near eight-month high. Although profit-taking emerged thereafter, the price remained stably above $85,000. Compared to the low near $76,000 on September 17, Bitcoin's cumulative rebound has exceeded 13%.

ETF Funds See Continuous Inflows as Falling Oil Prices Improve Risk Appetite

From a fundamental perspective, the core factor driving the recent continuous rise in Bitcoin prices is the sustained inflow of capital into ETFs.

Data from Farside Investors shows that US spot Bitcoin ETFs recorded net inflows of approximately $433 million on September 18, which further reached $999 million on September 21, and continued to see an inflow of about $364 million on September 22, bringing cumulative net inflows over the three trading days to nearly $1.8 billion. The previous ETF outflows triggered by setbacks with the CLARITY Act and Federal Reserve interest rate hikes have clearly reversed, with institutional demand once again becoming a key force driving BTC past $80,000.