Bitcoin holds near $84,000 as strong ETF inflows support recovery, spot demand moderates

Bitcoin trades around the $84,000 mark on Thursday as the crypto market balances renewed institutional demand with a cautious macro backdrop The cryptocurrency was trading at $83,754 mark.

In the past 24 hours, Bitcoin and Ethereum were up 0.45% and 0.33% respectively. Among the major altcoins, BNB, Dogecoin, Hyperliquid and Cardano gained upto 3.29% whereas XRP, Solana, and Tron fell upto 1%.

Vikram Subburaj, CEO, Giottus said US spot Bitcoin ETFs saw strong inflows through September. This helped support Bitcoin’s recovery. However, spot demand has moderated in recent sessions. This has kept the upside measured.

He further said for investors, patience remains important in the current environment. Avoid chasing sharp short-term price moves. Bitcoin’s ability to hold the 82,000-82,500 support zone will be important.

The global crypto market capitalisation was up 0.32% to $2.87 trillion, according to the data on Coinmarket cap.

Avinash Shekhar, Co-Founder & CEO, Pi42 said Bitcoin has started October on a positive note, trading around the $85,000 mark as softer