Bitcoin stalls near $84,000 after third failed push above $87,700 as US spot ETF inflows slide

AI Market Summary
BTC is consolidating near 84,000 after repeated failures to reclaim the yearly open around 87,700, while both leverage and spot demand are fading. Aggregate futures open interest has fallen to ~625,000 BTC (lowest since Jan 1), signaling reduced risk appetite. US spot BTC ETF inflows dropped ~90% week-over-week and the inflow streak broke, highlighting weaker marginal demand and limiting near-term upside momentum.
Impact level
● Medium
Affected assets
BTC/USDT-2.43%
AI Insight · BTC/USDTAI Insight
▼ Bearish
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Bitcoin has repeatedly failed to break above its yearly open at $87,700 and is trading near $84,000. Futures-market leverage has cooled, with aggregate open interest down to about 625,000 BTC, the lowest level since January 1. Spot demand has also softened, as US spot Bitcoin ETFs took in just $241.1 million in net inflows from September 28 to October 2, down about 90% from $2.39 billion the prior week. Data show long futures traders closed positions in size after key releases, leaving overall momentum subdued.