Bitcoin trades near USD 83,420, down 0.53% over 24 hours, as the broader crypto market weakened. Rising Treasury yields, higher oil prices and geopolitical uncertainty weighed on market sentiment.
Meanwhile, US spot Bitcoin ETFs extended their inflow streak to nine trading days, collecting nearly USD 3.1 billion during that period.
Bitcoin’s decline accompanied a 0.63% drop in total crypto market value. The pullback followed its September rally to USD 87,374, leaving the price near the lower end of its recent range. Higher borrowing costs and energy prices remained part of the broader market backdrop.
Rising Treasury yields, a stronger dollar and Middle East tensions accompanied Bitcoin’s recent weakness. Higher yields increase the appeal of interest-bearing investments, while rising oil prices can add to inflation pressure and affect expectations for monetary policy.
Kyle Rodda, senior financial market analyst at Capital.com, linked the pause in Bitcoin’s rally to energy costs. “The rise in crude prices is capping non-yielding assets,” he told Bitcoin.com News. However, he also described Bitcoin’s technical position as ‘quite constructive.’
Rodda said continued upside risks in energy markets could limit Bitcoin’s recovery. Separately, Moon Pursuit Capital managing partner Utkarsh Ahuja said tighter financial conditions can quickly affect crypto prices. Both assessments pointed to broader financial pressures rather than a confirmed Bitcoin-specific cause for the decline.
US spot Bitcoin ETFs recorded USD 66.2 million in net inflows on Tuesday, according to SoSoValue data. Their ninth consecutive positive session brought the streak’s total to roughly USD 3.1 billion. Net inflows for the year reached approximately USD 1 billion.
Tuesday’s additions exceeded Monday’s nearly USD 31 million, although both sessions attracted less money than the largest daily inflows during the recent run. The slower pace showed smaller net additions to the funds. It did not mark an end to the positive streak or establish that institutions had stopped buying.
Meanwhile, spot Ether ETFs posted approximately USD 3 million in net outflows on Tuesday. The withdrawals ended seven consecutive positive sessions that had attracted more than USD 851 million. Cumulative net inflows into the Ether funds stood near USD 14 billion.
Zcash ETFs also reversed direction earlier in the week. They recorded USD 8 million in net outflows on Monday, ending a six-day inflow streak. The figures showed differing daily demand across crypto funds, with Bitcoin continuing to attract net additions while Ether and Zcash registered withdrawals.
Bitcoin’s nearby support lies around USD 82,600 to USD 83,000, close to Monday’s local low of USD 82,555. A sustained decline below that area could expose the USD 81,000 to USD 82,000 zone. These levels remain technical reference points rather than certain destinations.
On the upside, resistance begins around USD 85,500 and extends toward USD 86,200. A sustained move above that band could bring USD 87,000 and September’s USD 87,374 peak back into focus.
Daily indicators remained mixed. Bitcoin traded above several longer moving averages, while its relative strength index stood at 61. However, the MACD indicator carried a negative signal.
Meanwhile, the Crypto Fear & Greed Index eased to 71 from 73. Sentiment remained in ‘Greed’ territory as Bitcoin traded below nearby resistance.
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