Bitcoin Near $111,700 Support as $241M Spot ETF Inflows Signal Dip-Buying Ahead of Q4
BTC/USDT
$17,366,629,629.18
$71,554.95 / $68,531.50
Change: $3,023.45 (4.41%)
-0.0023%
Shorts pay
QCP’s daily market observation noted the crypto market remained under pressure as September closed, with the U.S. stock market posting a sharp overnight decline while Chinese concept stocks showed relative resilience versus the broader market.
Price action indicates Bitcoin is hovering near the $111,700 support and Ethereum has slipped below the $4,100 threshold that held since early August; further deterioration could prompt retests of recent lows near $107,000 for BTC and $3,300 for ETH.
Institutional demand showed no clear retreat: the Bitcoin spot ETF logged $241 million in overnight inflows, reversing two days of outflows, October $118,000 BTC call options dominated options activity, and markets continue to price two 25‑basis‑point rate cuts in October and December absent a strong non‑farm payrolls print.