On the Chain: Bitcoin slides towards US$83,000 despite record ETF buying

Bitcoin has slipped back towards US$83,000, extending its retreat from last week’s eight-month high even as institutional investors pour record amounts of money into US spot Bitcoin exchange-traded funds.

The world’s largest cryptocurrency was trading at US$83,409.76 around midday on Monday, down 1.24% on the day, according to the latest market pricing.

Bitcoin has steadily weakened from above US$84,500 during the session and is now well below the US$87,315 level reached last Monday, when renewed institutional demand and a short squeeze drove the cryptocurrency to its highest level since January.

The inability to hold above US$85,000 is particularly notable given the scale of ETF buying taking place.

Record ETF inflows fail to lift price

US spot Bitcoin ETFs attracted around US$2.39 billion in the week through September 25, their strongest weekly inflow of 2026, while extending their run of net buying to seven consecutive sessions. The Coin Republic

Monday alone brought almost US$1 billion into the products before daily inflows gradually eased later in the week.

BlackRock’s iShares Bitcoin Trust accounted for a large portion of the buying, with institutional flows helping reverse the significant ETF outflows recorded earlier this year. Cointelegraph