Bitcoin price tests $83,000 support; 4-hour trend turns bearish
2026-09-29 02:55:41
CoinMeta data: On September 28, Bitcoin tested the $83,000 support level, with trading prices approaching $84,000, after a decline from recent highs above $87,000. Lacie Zhang, the head of wallet research, stated that this decline reflected profit-taking after the rise in Bitcoin, a reduction in leveraged long positions, rising U.S. Treasury yields, and a strengthening dollar. She pointed out that interest rates, energy prices, and geopolitical risks were the main sources of pressure, while changes in derivative positions accelerated the decline. On the daily chart of Binance, Bitcoin prices were near $83,960, a decrease of 0.61% from the previous trading day. From September 21 to 25, U.S. spot Bitcoin ETF recorded a net inflow of approximately $2.39 billion. Although the daily inflow decreased from $999 million on Monday to $134.5 million on Friday, it remained positive for all five trading days. Zhang believes that continued buying may support Bitcoin during the correction period, although the slower inflow speed indicates that investors have become more selective.
Source:Cryptonews
This content is for market information only and does not constitute investment advice.
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