In this context, Bitfinex stated that for Bitcoin to initiate a new upward movement after a large portion of leveraged positions have been cleared, real buyers in the spot market need to step in.
Bitfinex, noting that flows into US spot Bitcoin ETFs should be closely monitored, stated that the decline in daily ETF inflows from $999 million at the beginning of the week to $134.5 million on Friday raises questions about the sustainability of demand. Therefore, according to Bitfinex, this situation is an indicator to be followed regarding the sustainability of the strong spot demand that started the week.
On the institutional side, Strategy’s purchase of 1,665 Bitcoin for approximately $142.7 million between September 21-27 is noteworthy.
What are the Critical Levels in Bitcoin?
Bitfinex points to $87,722, the opening price of $BTC in 2026, as the first immediate resistance. According to Bitfinex, if $BTC sustainably breaks above $87,722, and ETF inflows accelerate and institutional buying continues, the next resistance point could be the average Market Cap/Realized Value (MVRV) price of $96,700.
Currently, Bitfinex identifies $85,000–$86,500 as a significant resistance level with a very high cost base, while $84,000 is identified as a critical long-term investor support zone.
In a downward scenario, Bitfinex pointed to $81,300 as the previous range peak. If $BTC closes below $81,300 and ETF inflows turn negative, the True Market Mean level of $77,000 could come into play. Bitfinex analysts stated that this level is seen as the main support for $BTC.
Analysts also added that the next major macroeconomic test for Bitcoin will be the US core PCE inflation data, to be released on September 30th.
*This is not investment advice.
