Bitcoin and altcoins have seen significant increases in recent days. Bitcoin, which rose above $87,000, subsequently faced selling pressure in the high cost zone between $85,000 and $86,500.
While Bitcoin has been consolidating in the $83,000-$85,000 range in recent days, Bitfinex analysts stated that in the short term, $84,000 is a support level for BTC, while the annual open level of $87,722 is a significant resistance level.
Leverage Cleared, Eyes on the Real Buyer!
Bitfinex analysts noted that the recent correction in Bitcoin has significantly reduced excessive leverage in the market, resulting in a drop of over 10% in open positions and total liquidations reaching approximately $581 million.
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.
