Bitcoin rebounds toward $84,000 as ETF selling eases and oil prices fall
Bitcoin recovered to $84,050 on Monday as falling oil prices supported broader risk appetite despite heavy withdrawals from U.S.-listed spot Bitcoin ETFs. The ETFs recorded $681.10 million in net outflows last week, while WTI futures fell 1.8% to $90.28. Analysts identified $82,000 as a key support level and pointed to U.S. inflation data due Oct. 14 as the next major catalyst.
Why it matters
The price rebound occurred alongside weaker institutional ETF demand, leaving Bitcoin exposed to renewed selling if support fails. Analysts cited in the materials view $82,000 as an important level and expect upcoming U.S. inflation data to influence near-term trading.
Key facts
- 1Bitcoin traded near $84,050 after earlier falling to roughly $83,500. finance.biggo.com
- 2U.S.-listed spot Bitcoin ETFs recorded $681.10 million in net outflows last week, ending three consecutive weeks of net inflows. tradingpedia.com
- 3WTI futures declined 1.8% to $90.28. finance.biggo.com
- 4Analysts identified $82,000 as a key Bitcoin support level. coindesk.com
- 5U.S. inflation data is due Oct. 14. coindesk.com
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.