Bitcoin Bounces Back Above $84K as ETFs Quietly Siphon Up Another $30M 🧲

Bitcoin reclaimed the $84,000 mark, reversing earlier weakness as spot Bitcoin ETFs registered a combined $30 million in net inflows, according to data tracked by James Van Straten. The rebound came amid a broader risk-on shift across markets, with WTI crude oil sliding more than 3% over the past 24 hours to approach $90 a barrel for the first time in a week. The move marks a sharp pullback from mid-September, when the benchmark traded as high as $106 a barrel.

The oil decline has been notable since conflict in the Middle East escalated in February, with WTI spending much of the year range-bound between $70 and $100 a barrel. Lower energy prices have helped ease inflation expectations and lifted appetite for risk assets, contributing to $BTC's recovery from recent lows.

ETF flows remain a focal point for traders gauging institutional demand. The $30 million in net inflows adds to a stretch of consecutive daily creations and underscores continued allocation to spot Bitcoin products even amid macro uncertainty.

Market participants are also watching ether and other major tokens, with $ETH trading in line with broader crypto sentiment as volatility across digital assets moderated.

Attention now turns to upcoming U.S. macroeconomic data prints and any further developments in the Middle East, both of which have repeatedly set the tone for both crude and crypto since February.