Bitcoin Trend Reversal Put to the Test as ETF Demand Faces Rate Pressure

Forecast Trend Report by Period

Bitcoin pulled back below $84,000 after climbing past $86,000, testing whether a trend reversal can hold, Binance Research said. With U.S. Treasury yields above 5%, the key question is whether spot exchange-traded fund inflows can continue to support a price recovery.

In a weekly report released on Sept. 29, Binance Research said ETF demand and improving trend indicators are supporting the rebound. But growing expectations for additional rate hikes could halt the advance. Its outlook remains positive, though conditional.

According to the report, Bitcoin climbed above $86,000 to an eight-month high after absorbing a 25-basis-point interest-rate increase by the Federal Reserve and the failure of a vote on the CLARITY Act. It later fell below $84,000 as strong U.S. economic data and rising international oil prices revived expectations for tighter policy.