Bitcoin stabilizes around US$84,000, institutional demand remains strong through ETF inflows
Bitcoin has shown surprisingly resilience this week. Although price momentum has cooled, investor interest remains strong. BTC remained near $84,000 until the weekend, and even after a correction after it had previously surged above $87,000, the market did not make a significant correction as many traders expected. On the contrary, stable institutional demand continues to support the market. Fresh money has continued to pour into spot bitcoin exchange-traded funds (ETFs) throughout the week, suggesting that large investors still view them as valuable even in the context of slowing price action.
Institutional demand remains a key driver of the market
Although inflows have slowed compared to early trading days, Bitcoin ETFs continue to attract large amounts of capital. On Thursday, the U.S. spot Bitcoin ETF recorded a net inflow of $191 million. The figure marked the third consecutive day of declining inflows, after a week that started strongly: ETF inflows on Monday were close to $999 million, the strongest single-day total so far in 2026. Although Thursday's data was well below that peak, the overall trend remained positive.
在过去六个交易日中,比特币ETF积累了约28亿美元的新增资本。从9月21日至9月25日的一周内,每个交易日均实现净流入,总流入量达到23.9亿美元,凸显了机构参与者持续的信心。贝莱德(BlackRock)旗下的iShares比特币信托基金领跑市场,该基金在本周内吸纳了11.6亿美元的资金。富达(Fidelity)的FBTC紧随其后,吸纳7.016亿美元,ARK 21Shares的ARKB增加了2.947亿美元。摩根士丹利(Morgan Stanley)的MSBT也取得了强劲成绩,带来2.033亿美元的流入。
投资兴趣已延伸至比特币之外。同期,以太坊(Ether)ETF吸引了6.898亿美元的资金,Solana ETF则增加了1.881亿美元,其中仅周五一天就达到了8,670万美元。这些数字表明,尽管近期市场存在犹豫情绪,投资者对数字资产的兴趣依然浓厚。比特币在本周早些时候曾攀升至87,000美元以上,随后回落至84,000美元附近。
多重逆风考验比特币的强度
几个外部因素给比特币近期的走势带来了挑战。国债收益率上升加剧了风险资产的承压局面。周五,美国10年期国债收益率升至5.2%以上,达到自2007年以来的最高水平。较高的收益率通常会吸引寻求可预测回报的投资者,这种转变可能会减少对以增长为导向的投资(包括加密货币)的需求。
Corporate dynamics have also attracted attention. As the largest holder of corporate bitcoin, Strategy proposes to provide daily dividend accruals on its four preferred shares. Management believes that more frequent dividend payments can improve liquidity and strengthen investor demand for these securities. At the same time, regulatory uncertainty has once again become a focus. SEC Commissioner Hester Peirce will leave the agency in October. Many market participants regard her as an important voice in the field of crypto regulation, and her work covers aspects such as pledge policies, token classification, and tokenized securities frameworks.
There was another setback in Washington: the Senate's failure to advance the Digital Asset Markets Clarity Act. Industry leadership changes have also had an impact on the industry, with Summer Mersinger, CEO of the Blockchain Association, announcing plans to resign.

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