PiCK
Bitcoin Reclaims $84,000 as Treasury Yields Stabilize, Spot ETF Inflows Continue
Summary
- Bitcoin (BTC) reclaimed the $84,000 level, supported by stabilizing U.S. Treasury yields and continued spot ETF inflows.
- U.S. spot Bitcoin ETFs recorded about $31 million in net inflows, while spot Ether ETFs drew about $17 million and SOL- and XRP-linked products posted combined net inflows of about $17 million.
- FxPro said Bitcoin found support near its previous high, and if bullish sentiment holds, it could climb above $87,000 and test a new multimonth high.
Forecast Trend Report by Period
Bitcoin reclaimed the $84,000 level as U.S. Treasury yields stabilized after a recent surge and inflows into spot exchange-traded funds continued.
CoinDesk reported on Sept. 29 that Bitcoin rebounded after slipping to around $82,500, rising back above $84,200. The yield on the benchmark 10-year U.S. Treasury, after climbing to its highest level since 2007 the previous day, steadied near 5.25%.
Among major altcoins, Ether rose about 2% to $2,720. Dogecoin gained 3% and XRP added 2%, while BNB, Solana and Tron rose by less than 1%.
Zcash, by contrast, fell about 9% to $1,423, marking one of the sharpest declines among major cryptocurrencies.
U.S. spot Bitcoin ETFs posted about $31 million in net inflows the previous day. Spot Ether ETFs drew about $17 million, while products linked to SOL and XRP recorded combined net inflows of about $17 million. U.S. ZEC funds, by contrast, saw about $8 million in outflows.
Alex Kuptsikevich, chief market analyst at FxPro, said Bitcoin appeared to have found support after pulling back toward its previous high. If bullish sentiment holds, it could rise above $87,000 and test a fresh multimonth high.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.