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Bitcoin Slips to $85,543 But Gains 3.21 Percent Over the Past Week Amid Strong Institutional Demand
M
Moneycontrol•06-10-2026, 09:01
Bitcoin Slips to $85,543 But Gains 3.21 Percent Over the Past Week Amid Strong Institutional Demand
- •Bitcoin traded down 1.02 percent to $85,543 in early trade on October 6, but still recorded a 3.21 percent gain over the past week.
- •US spot Bitcoin ETFs saw strong inflows of around $2.65 billion in September, while derivatives activity picks up with rising open interest.
- •Market experts note that Bitcoin is currently consolidating between $85,600 and $86,000, facing resistance at $87,000 and support at $83,000.
- •Macro factors including upcoming US CPI data on October 14 and the Federal Reserve meeting in late October are expected to keep the market volatile.
- •Analysts recommend a staggered investment approach and measured position sizes until the macroeconomic outlook becomes clearer.
Key Questions Answered
Bitcoin is currently consolidating between an immediate support level at $83,000 and resistance sitting at $87,000.
US spot Bitcoin ETFs attracted approximately $2.65 billion during the month of September.
Analysts are closely monitoring the US Consumer Price Index (CPI) report scheduled for October 14, followed by the upcoming Federal Reserve meeting on October 27-28.
