Coinspeaker
1 hour ago
Bullish

ETF demand lifts Bitcoin above $85,000 as Saylor buys 950 BTC

3 min

Bitcoin reclaimed $85,000 for the first time in eight months and is trading near $85,200, up about 6% in 24 hours. The move followed a rapid rebound from sub-$75,000 after the Senate blocked the CLARITY Act and the Federal Reserve raised rates. BTC broke above the $82,300 level that capped rallies since spring. Volume reached $44 billion in 24 hours and market cap rose to $1.71 trillion. Short liquidations exceeded $260 million in one hour.

Drivers: corporate accumulation and ETF demand

Strategy bought 950 BTC between September 14 and 20 for about $75.7 million at an average price of $79,670. The firm now holds 846,000 BTC acquired for roughly $63.8 billion at an average cost of $75,416 per coin, equal to more than 4% of the 21 million supply cap. At current prices this implies about $8 billion in unrealized gains. The purchase follows a pause in buying and a sale of 6,916 BTC in the summer to bolster cash.

US spot Bitcoin ETFs recorded $433 million of net inflows on Friday, the strongest since September 3. Fidelity’s FBTC saw $310.7 million and BlackRock’s IBIT $108.4 million. The week remained net positive at $6.2 million after reversing earlier outflows. Weekly ETF trading volume nearly doubled to $16.17 billion from $8.77 billion, indicating active institutional repositioning.

Technical context and projected levels

BTCUSDT Price Chart 1D

BTCUSDT Price Chart 1D TradingView

BTC cleared $82,300, which rejected price in May and September. The 200-day exponential moving average near $73,500 turned higher and BTC trades above it.

Roadmap:

  • $82,300 as support: breakout remains valid while daily closes hold above this level.
  • $88,000 to $90,000 as the next target: limited resistance above $85,000 if ETF inflows continue.
  • $98,300 as the next major level from early 2025: last barrier before $100,000, possible by year-end if momentum persists.

A daily close below $82,300 would indicate a failed breakout and increase risk of a move toward $73,500 to $73,800. Current conditions: renewed corporate buying, ETF inflows, and a confirmed technical break.