Bitcoin's Rally Stalls as ETF Inflows Drop Sharply
Bitcoin's push toward $90,000 has lost momentum as U.S. spot ETF inflows decline significantly.
- Bitcoin stalls below $87,722 after failing to reach $90,000.
- Weekly ETF inflows fell from $2.39B to $241.1M.
- Market sentiment remains in 'Greed' territory at 73.
Bitcoin's recent push toward the $90,000 mark has encountered resistance, with the price stalling below $87,722 according to Bitfinex analysts. This slowdown comes as the momentum from U.S. spot ETF inflows has significantly diminished.
The Bitfinex Alpha market update from October 5 indicates that the weekly inflow into U.S. spot Bitcoin ETFs has dropped dramatically from $2.39 billion to just $241.1 million. This sharp decline in institutional buying appears to be a key factor in the stalled rally.
While the exact reasons for the slowdown in ETF inflows are not fully clear, it suggests that the initial wave of institutional interest may be cooling off. This development is occurring amidst a broader market that remains relatively flat.
At the time of writing, Bitcoin is trading at $85,743, showing a modest 24-hour gain of 0.45% and a 7-day increase of 3.19%. The total cryptocurrency market cap stands at $2.99 trillion, with the overall market sentiment still in 'Greed' territory at 73 on the Fear & Greed Index.
This pullback in ETF-driven buying could signal a temporary pause in Bitcoin's upward trajectory. However, it remains to be seen whether this is a short-term correction or a more prolonged period of consolidation before the next major move.
At today's peer-to-peer rate, 1 BTC ≈ ₦116.81M (about $85,517.00), down 0.2% over 24 hours. The naira itself trades about 2.6% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Bitcoin — questions
How much is 1 Bitcoin worth in naira today?
About ₦116.81M at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $85,517.00. The naira price moves with both BTC's US-dollar price and the USDT/NGN rate; use our Bitcoin in naira page for any amount.
Has Bitcoin's price moved since this brief was published?
BTC is down 0.26% since this brief first published — trading at $85,517.00 now versus $85,743.00 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from Crypto.news. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.