How high can Bitcoin go? BTC eyes $83,000 as ETF inflows fuel its latest rally | Hindustan Times

Bitcoin was trading around the low-$81,000 range on September 20, after recovering strongly from levels below $76,000 last week. The immediate question for traders is whether BTC can break through the $82,000-$83,000 resistance zone. Bitcoin had repeatedly struggled to move above this area, making it an important level for the current rally. The latest rebound has brought Bitcoin back near the resistance zone.

$83,000 is now the key level to watch

Bitcoin has already recovered the important $80,000 psychological level. The next major test is between $82,000 and $83,000. If Bitcoin can break and stay above this range, the next possible target area could be around $85,000-$86,000.

However, sellers could become more active again around those higher levels. Coinpaper previously reported that Bitcoin had struggled to clear $82,000, making the current move a continuation of that earlier battle.

US Bitcoin ETFs are bringing fresh buying demand

One of the biggest supports for Bitcoin's latest recovery has been renewed demand from US spot Bitcoin ETFs. Bitcoin ETFs recorded $433 million in net inflows on September 18, according to Farside Investors. Fidelity's FBTC led the inflows with $310.7 million.