Bitcoin faces $84,000 supply barrier as ETF inflows sink to $31 million

US spot Bitcoin ETFs drew $31.07 million on Sept. 28, the weakest inflow in an eight-session positive streak. Daily inflows had approached $1 billion on Sept. 21. Last week's inflows totaled $2.4 billion, the strongest weekly figure of 2026 and the largest since October 2025. SoSoValue put month-to-date inflows at $2.73 billion and 2026 net inflows at about $1.01 billion. The funds had been roughly $5.8 billion in the red for the year as recently as July. According to SoSoValue, BlackRock's iShares Bitcoin Trust received $54.84 million and added about 657 Bitcoin. Its holdings rose above 800,000 BTC for the first time since May 26. Grayscale's Bitcoin Mini Trust received $10.32 million. Fidelity's Wise Origin Bitcoin Fund recorded $10.90 million in outflows. Grayscale's GBTC recorded $23.19 million in outflows. The remaining products had no net flows. Bitcoin traded around $84,000 after retreating from above $87,000 last week. Glassnode identified more long-term-holder coins between $84,000 and $85,000 than at any other level in its cost-basis distribution. That concentration could increase selling as holders reach breakeven or return to profit. Glassnode said Bitcoin needs to break through the zone and hold above it for the rally to continue. Glassnode said ETF inflows supported last week's roughly 4% gain as perpetual-futures traders and profit-takers sold. Smaller inflows now leave less institutional demand to absorb sales near the supply zone. Monday's $31 million net inflow was equivalent in value to fewer than 400 BTC at roughly $84,000 per Bitcoin, though ETF flows do not equal same-day spot purchases. Renewed ETF buying could help Bitcoin absorb the supply. Further declines in inflows could leave Bitcoin struggling to clear the zone.