On-chain data show holders continuing to realize profits after the recent rally, creating a test of whether fresh demand can absorb that supply.
Bitcoin ETFs extend inflow streak
US spot Bitcoin ETFs attracted $31 million in net inflows on Monday, according to data obtained from CoinGlass.
It was the eighth consecutive trading day of positive flows, although Monday’s amount was modest compared with the previous week’s larger gains.
The funds drew approximately $2.4 billion during the week ending September 25, their strongest weekly inflow since October 2025.
That buying helped reverse the funds’ year-to-date net outflow and provided a source of demand during Bitcoin’s advance above $85,000 last week.
An inflow streak indicates sustained interest in ETF exposure, but its size matters as much as its length.
Monday’s $31.07 million was positive without approaching the pace of the previous week’s biggest sessions. Traders will be watching whether flows strengthen again as Bitcoin tests resistance.
Corporate buying continued alongside ETF demand. Strategy disclosed on Monday that it acquired 1,665 $BTC for approximately $142.7 million between September 21 and 27.
The purchase raised its holdings to 847,666 $BTC, making it the largest public corporate Bitcoin treasury by a wide margin.
The purchase followed a 950 $BTC addition the previous week. Strategy’s latest filing also detailed repurchases of about $152 million in STRC preferred shares, showing that it is managing its capital structure while adding Bitcoin.
A corporate acquisition removes coins from the market at the time of purchase, but it cannot establish a price floor.
The impact on $BTC depends on how much other holders are willing to sell and whether broader investment demand continues.
Santiment’s Network Realized Profit/Loss measure rose on Monday after two pronounced spikes the previous week.
The metric tracks the profit or loss realized when coins move on-chain.
A positive spike can indicate that holders are transferring coins after substantial price gains, potentially adding selling pressure.
Last week’s profit-taking reading reached its highest level since December 12, 2025, as Bitcoin’s rally slowed near its recent highs.
Monday’s spike was smaller, suggesting the pace of realized gains had eased, though it had not disappeared.
This leaves Bitcoin balancing two visible trends: continued buying through ETFs and corporate treasuries, and selling by holders taking gains.
A quieter profit-taking period could make it easier for $BTC to advance, provided incoming demand holds up.
$BTC price tests the $85,000 resistance
Bitcoin remained above its 50-day, 100-day, and 200-day exponential moving averages in the supplied daily-chart analysis.
Those averages were clustered between roughly $74,100 and $77,500, keeping the broader chart structure constructive despite the recent pullback.
The relative strength index stood near 62, in positive territory without signaling an overbought market.
Meanwhile, a flattening MACD histogram suggested that upward momentum had paused.
The first upside test is $85,000. A daily close above that level would strengthen the case for another advance, while repeated rejection could prolong consolidation.
On the downside, the 50-day EMA near $77,586 is the first major moving-average support.
The 100-day and 200-day EMAs near $74,130 and $74,350 form a lower support zone.
