Key takeaways Bitcoin ETFs attract approximately $1.1 billion in three sessions Glassnode identifies concentrated selling pressure near $87,500 Sustained breakout could open Bitcoin's path to
Bitcoin's recovery is approaching a crucial test as U.S. spot exchange-traded funds attract approximately $1.1 billion in net inflows over three trading sessions, raising hopes that renewed institutional buying could push BTC toward $90,000.
The rebound marks a sharp reversal from earlier October withdrawals. However, Glassnode warns that Bitcoin faces concentrated selling pressure between $85,000 and $87,500, where investor cost bases, exchange orders and futures liquidation clusters overlap.
Bitcoin ETFs Draw $1.1 Billion as Institutional Demand ReturnsU.S. spot Bitcoin ETFs recorded approximately $526.7 million in net inflows on October 19, followed by $23.2 million on October 20 and a reported $524.8 million on October 21.
Together, those sessions generated roughly $1.075 billion in net subscriptions, reversing part of the pressure caused by an earlier $680 million withdrawal wave.
According to Farside Investors, BlackRock's IBIT attracted $235 million in net inflows on October 21, while Fidelity's FBTC added $212.7 million.
Together, the two funds accounted for approximately 85% of the day's $524.8 million in total Bitcoin ETF inflows, helping push three-session net subscriptions to nearly $1.1 billion.
The following session exposed how uneven the recovery remained. As Coinpaper's ETF flow analysis highlighted, daily inflows fell approximately 96% before rebounding.
<iframe src=”https://widgets.coincodex.com/w/00f507eb-815a-48a6-8b90-a7edca97de17?site=coinpaper&mode=light” width=”100%” height=”420” frameborder=”0” referrerpolicy=”no-referrer-when-downgrade” style=”border:0;background:transparent;border-radius:0px;”></iframe>Yet stronger ETF buying does not automatically guarantee higher Bitcoin prices. Existing holders can sell into institutional demand, preventing fresh capital from producing an immediate breakout.
Glassnode Identifies Bitcoin's $87,500 Resistance WallIn its October 21 market analysis, Glassnode identified overlapping resistance between $85,000 and $87,500.
Bitcoin holders who purchased their coins six to twelve months ago have an estimated average acquisition price near $86,700. Meanwhile, a substantial concentration of sell orders sits between $86,500 and $87,500.
Futures liquidation clusters near $85,000 and $87,000 could temporarily accelerate upward movements as leveraged short positions close. However, that buying pressure may collide with investors seeking to exit positions near breakeven.
This reinforces the $87,700 resistance level highlighted in our previous market coverage.
Glassnode also reports that spot ETF trading volume remains subdued despite the return of inflows, suggesting the recovery has yet to attract consistently broad market participation.
Bitcoin Price Prediction: Can BTC Reach $90,000?A sustained daily close above $87,500, supported by rising spot volume and continued ETF inflows, would strengthen the bullish case for a move toward $90,000.
Beyond that threshold, the broader $100,000 outlook becomes more relevant, although additional resistance remains between approximately $90,000 and $94,000.
Conversely, rejection near $87,500 could send Bitcoin back toward $82,000 before testing the $80,000–$81,500 support region.
Glassnode estimates that ETF investors and corporate Bitcoin treasuries have average acquisition prices near those support levels. A daily close below $80,000 would weaken the recovery and expose the True Market Mean near $77,600.
The October 28 Federal Reserve decision remains another major catalyst. Coinpaper's earlier Fed analysis explained how restrictive monetary policy could place renewed pressure on Bitcoin.
Meanwhile, Citigroup's $113,000 forecast highlights a more optimistic institutional outlook over a longer horizon, rather than a guaranteed year-end target.
