Bitcoin Slides Below $86,000 as ETF Flows Turn Negative and Resistance Looms

Bitcoin traded below $86,000 on Tuesday, pausing after a three-week run that delivered gains of more than 12%. The move comes as U.S. spot bitcoin ETFs shifted to a $90 million net outflow on Monday, following last week's $241.09 million in net inflows, according to SoSoValue. The market is now testing key technical levels. Immediate support sits at $85,000. Overhead, resistance is flagged at $87,599, with additional pressure expected near the psychological $90,000 area. ETF flows remain a central driver of sentiment. A sustained pickup in inflows would reinforce demand as bitcoin approaches resistance, while softer flows could leave the advance more reliant on other sources of buying. Macro expectations also eased after a weaker-than-expected U.S. employment report. September nonfarm payrolls rose by 29,000 versus an expected 90,000, the Bureau of Labor Statistics reported. August payroll growth was revised down to 133,000 from 162,000. After the release, CME FedWatch put the probability of an October Federal Reserve rate hike at 18.3% on Monday, down from about 70% the prior week. Technically, the weekly chart shows initial resistance at $87,599, the 50% retracement between the August 2024 low of $49,000 and the October 2025 record high of $126,199. A weekly close above that level would bring the 100-week simple moving average near $89,832 into view, followed by $90,000. Weekly momentum remains supportive, with the Relative Strength Index around 62 and rising, and the MACD showing expanding positive histogram bars. If resistance holds and a broader pullback takes shape, downside reference points include the $78,490 Fibonacci level and the 50-day SMA near $77,201. On the daily chart, bitcoin remains above its 50-day, 100-day, and 200-day exponential moving averages, keeping the near-term bias constructive. The daily RSI is near 67, strong but just below typical overbought territory. The MACD histogram has drifted closer to zero, pointing to waning upside momentum. A daily close below $85,000 would undermine the consolidation and open the way toward the 50-day EMA near $79,189. Below that, the 100-day EMA at $75,367 and the 200-day EMA near $74,994 form a deeper support zone, with additional horizontal levels noted at $66,500 and $62,300. Bitcoin's rebound remains intact, though a clean break above $87,599 would provide firmer confirmation that buyers can extend the move toward $90,000.