Key takeaways Bitcoin approaches $84,000 despite substantial weekly ETF outflows BTC open interest declines while broader speculation increases U.S. inflation data could determine the next br
Bitcoin is trading near $84,000 on October 12, recovering from last week's decline toward $81,000 even as U.S. spot Bitcoin ETFs recorded approximately $680 million in net withdrawals.
The rebound comes ahead of Wednesday's U.S. inflation report, with Bitcoin facing a crucial test near $85,000. Meanwhile, derivatives data suggests traders remain cautious despite improving prices.
Bitcoin Price Recovers Despite $680M ETF OutflowsU.S. spot Bitcoin ETFs lost approximately $680 million between October 5 and 9, according to market data compiled from ETF flows.
The withdrawals follow an earlier October selloff that saw Bitcoin ETFs lose $244.1 million on October 8 alone.
However, the cryptocurrency has recovered toward $84,000, indicating that selling pressure has not completely overwhelmed spot-market demand.
Bitcoin Price Prediction: $85K Breakout or $80K Retest?Bitcoin's immediate resistance lies near $85,000, followed by the $87,000–$90,000 area.
A sustained breakout above $85,000, supported by improving trading volume and ETF flows, would strengthen the case for another move toward $90,000.
QCP Capital previously identified $80,000-$82,000 as a potential Bitcoin buying zone, while outlining a fourth-quarter trading range extending toward $90,000.
A separate CryptoQuant analysis published October 12 suggests market-bottom conditions are improving. However, analyst XWIN Japan cautions that stronger U.S. spot buying and sustained ETF inflows are still needed for confirmation.
Without those signals, another rejection around $85,000 could bring $82,000 and subsequently $80,000 back into focus.
