12 October 2026
Bitcoin Price Update: Recovery to $84K After Weekly Low of $82,500
Bitcoin has shown resilience, bouncing back to approximately $84,000 after hitting a weekly low of $82,500. Despite a nearly 1% decline in daily trading, the cryptocurrency remains over 7% higher for the month, reflecting a strong performance.
Recent data indicates that spot Bitcoin ETFs attracted significant inflows of $2.39 billion last week, marking the largest weekly inflow since October 2025. This surge in interest is seen as a positive sign for Bitcoin's future price movements.
Analysts from Bitfinex have identified key resistance at $96,700 and crucial support at $77,000. They suggest that continued buying will be essential for maintaining upward momentum in Bitcoin's price.
Over the past 24 hours, Bitcoin's price action resulted in the liquidation of nearly $92 million in long positions, while short positions saw $33.5 million wiped out. This volatility highlights the ongoing shifts in market sentiment.
Onchain data reveals that the largest cluster of long-term holder supply is concentrated between $84,000 and $85,000, indicating a critical zone for future price action. Maintaining levels above $84,000 could pave the way for a move towards $96,700.
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