{"id":47406,"date":"2026-09-24T09:41:24","date_gmt":"2026-09-24T09:41:24","guid":{"rendered":"https:\/\/financialrush.com\/?p=47406"},"modified":"2026-09-24T09:41:24","modified_gmt":"2026-09-24T09:41:24","slug":"3-reasons-bitcoins-bullish-trend-remains-intact-despite-the-drop-below-84k","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=47406","title":{"rendered":"3 Reasons Bitcoin\u2019s Bullish Trend Remains Intact Despite the Drop Below $84K"},"content":{"rendered":"

\n<\/p>\n

The primary cryptocurrency rallied strongly earlier this week, briefly exceeding $87,000 for the first time since January. However, bulls couldn’t sustain the momentum, and BTC retraced to the current $83,800 (per CoinGecko).<\/p>\n

While some might fear the bears are about to regain full control, three key factors suggest the asset remains positioned for further upside.<\/p>\n

Whales and More<\/h2>\n

BTC lost over $3,000 in value over the past 24 hours, yet institutional interest remains quite solid. Data shows that spot Bitcoin ETFs have posted five green days in a row, attracting more than $2.5 billion during that period. September 21 was the strongest day, when the financial vehicles accumulated almost $1 billion.<\/p>\n

<\/a>
Spot BTC ETFs, Source: SoSoValue<\/figcaption><\/figure>\n

This development suggests pension funds, hedge funds, and other conservative investors have increased their exposure to the asset, setting the stage for further gains.<\/p>\n

Next on the list is the declining amount of BTC sitting on cryptocurrency exchanges. According to CryptoQuant, the figure has dropped to a four-month low of around 2.7 million, indicating that many investors have shifted from centralized platforms to self-custody solutions. This is considered a bullish sign since it reduces immediate selling pressure.<\/p>\n

\"BTC<\/a>
BTC Exchange Reserve, Source: CryptoQuant<\/figcaption><\/figure>\n

Last but not least, we shall mention the whale activity. The analytics platform Santiment revealed<\/a> that large investors (holding between 100 and 1,000 BTC) have purchased almost 114,000 units since mid-July. Their collective holdings have grown by 2.22% to roughly 5.24 million BTC, representing 26% of the asset’s circulating supply.<\/p>\n

This aggressive accumulation matters because it leaves fewer coins available on the open market, which, combined with steady or rising demand, should trigger a price pump. It also signals strong confidence among these market participants and may encourage smaller players to follow suit, bringing fresh capital into the ecosystem.<\/p>\n

The Bull Market Has Begun?<\/h2>\n

Earlier this week, renowned analyst Ali Martinez outlined<\/a> several factors, such as rising activity on the BTC network and growing appetite for spot Bitcoin ETFs, suggesting the asset’s price may continue its uptrend all the way to $100,000.<\/p>\n

Shortly after, he spotted<\/a> a double-bottom formation on the price chart, which signals that the $82,500 neckline is likely to hold as support, meaning that the $100K target remains in the cards.<\/p>\n

CryptoQuant’s analysts have also weighed in. They noted<\/a> that BTC recently closed above its 365-day moving average (around $80,500) for the first time since March 2023. According to them, the development confirms the start of a new bull run, reminding that similar breaks in 2019 and 2023 have been precursors to major rallies.<\/p>\n

The post 3 Reasons Bitcoin\u2019s Bullish Trend Remains Intact Despite the Drop Below $84K<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n\n
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