Bitcoin stalls near $84K wall as ETF inflows drop to $31M

ETF inflows shrink to $31M on Sept. 28

US spot Bitcoin exchange‑traded funds recorded $31.07 million in net inflows on September 28, marking the weakest single‑day total of an eight‑session streak.

BlackRock’s iShares Bitcoin Trust (IBIT) led the session with $54.84 million in inflows, raising its holding to above 800,000 BTC—the first time since May 26.

Grayscale’s Bitcoin Mini Trust (BTC) added $10.32 million, while Fidelity’s Wise Origin Bitcoin Fund (FBTC) saw $10.90 million in outflows. Grayscale’s GBTC lost $23.19 million, and the remaining products posted no net flows.

The $31.07 million intake extends the positive streak for US spot Bitcoin ETFs to eight consecutive days, though it represents the lowest volume of the entire run.

Last week’s $2.4 billion in fund inflows remains the strongest weekly total since October 2025, flipping year‑to‑date flows back into positive territory after a period when the funds were roughly $5.8 billion underwater as recently as July.

Glassnode analytics highlight growing concern: long‑term‑holder supply is heavily concentrated between $84,000 and $85,000 on its cost‑basis distribution. At current levels, that concentration could amplify selling pressure as holders approach breakeven or realize profits.

At approximately $84,000 per Bitcoin, Monday’s inflow equates to fewer than 400 BTC—far less than the more than 11,000 BTC represented by the nearly $1 billion that entered the funds at the start of last week.

A renewed pickup in ETF buying could provide the momentum needed to push Bitcoin past the $84,000‑$85,000 zone and reopen the path higher.

Source: CryptoSlate