Bitcoin bull market hinges on $85K support and fresh buying: Bitfinex analysts
Bitcoin has held a dense $85,000–$86,500 buyer cost range after reaching $87,392, but Bitfinex analysts have said continued ETF and corporate purchases are needed to confirm a new bull market. SummaryBitcoin reached its highest price since Jan. 29 before pulling back toward a major buyer cost range.Bitfinex said U.S. spot Bitcoin ETFs drew $1.71 billion across Sep. 21 and 22.The analysts want profitable supply to stay above 75% during Bitcoins first correction.ETF investors are near break-even at $86,000, while corporate buyers average cost is about $80,500. Bitfinex Alpha said in its Sep. 23 report that Bitcoins advance from its July 1 low of $57,803 has reached a test that separated lasting bull markets from failed recoveries in previous cycles. The analysts have identified the $85,000–$86,500 range as the largest concentration of recent buyer cost bases. Holding that area would show that buyers who entered during the rally are willing to keep their positions through a pullback. Why Bitcoins $85K buyer range matters According to Bitfinex, about 633,000 BTC last changed hands between $85,000 and $86,500, creating the largest cost range in its price distribution data. Buyers also moved roughly 2.95 million BTC into profit over four trading sessions as Bitcoin climbed. The amount of









