Bitcoin traded near $83,150 on Sunday after another pullback from the $85,000 area, with bulls working to defend the recovery trend that has been in place since August. The leading cryptocurrency opened the session near $84,463 and briefly touched $84,992 before falling to $82,675, leaving the daily candle down about 1.6%.

The decline follows last week's rejection above $87,000. Bitcoin reached roughly $87,350 in September before sellers pushed the price back into the low-$80,000 range. Despite the pullback, BTC still sits well above its August low near $63,000 — a show of underlying strength that one trader highlighted directly. Bull Theory (@BullTheoryio) posted that Bitcoin had just closed above $84,000 for its highest weekly close in eight months, adding that BTC is now up 45% from its June low.

BREAKING: Bitcoin just closed above $84,000 for its highest weekly close in 8 months. BTC is now up +45% from its June low. pic.twitter.com/jGilZsoDAe
— Bull Theory (@BullTheoryio) September 28, 2026

Notably, the pullback comes despite a milestone on the demand side: U.S. spot Bitcoin ETFs, which buy and hold Bitcoin directly on behalf of investors, drew roughly $2.39 billion last week, their strongest weekly inflow of 2026 — a contrast that has defined recent trading, as new buyers continue to meet existing holders selling between $84,000 and $87,000.

Bitcoin Tests Rising Support Near $83K

The main question for traders is whether BTC can hold above its rising trend line. Price is currently testing a zone between $82,000 and $83,000 that has attracted buyers repeatedly through September. A break below that line could open the door to $75,000-$77,000, while a larger support zone sits further down near $65,000-$67,000.

On the upside, bulls first need to reclaim $85,000. After that, clearing $87,000-$88,000 would put attention on resistance near $94,000-$97,000.

Momentum has cooled but remains positive. The daily relative strength index (RSI), a momentum indicator that flags overbought and oversold conditions, reads 59.54, above neutral but short of overbought. The MACD, a trend-following gauge built from moving averages, also stays slightly bullish, with the MACD line near 2,285 against a signal line around 2,232.

Analyst Benjamin Cowen (@benjamincowen) weighed in on the structure. He noted that BTC closed above its May high — technically a point in favor of the bulls — and said the burden of proof now sits with the bears to prove otherwise. Cowen added that the rally has been more muted than in past cycles, when BTC typically ran 20-30% within one to two weeks after this kind of breakout, pointing to seasonality fears and rising yields as possible reasons for the slower pace.

Bitcoin closed above the May high, which is technically a point for the bulls, and the burden of proof remains with the bears to prove otherwise. Given that BTC is still <1% away from the May high, it makes it hard to jump to conclusions going into Q4 (as much as I would like to… pic.twitter.com/GagX9mslpg
— Benjamin Cowen (@benjamincowen) September 28, 2026

ETF Demand Reaches 2026 High

The strongest support for the recovery has come from U.S. spot Bitcoin ETFs. Funds attracted about $2.39 billion during the Sept. 21-25 week, the largest weekly total of 2026.

$BTC Has seen strong ETF inflows last week which shrunk as the week went on. But to see $2.4B in inflows in a single week is massive. That kind of buy pressure is something that is quick to absorb any willing sellers and see a quick reprice just like we did. $ETH also saw a… pic.twitter.com/5LFxwdecRG
— Daan Crypto Trades (@DaanCrypto) September 27, 2026

Friday alone brought $134.5 million in net inflows, extending the inflow streak to seven sessions. BlackRock's IBIT led the way with $97 million, while Fidelity's FBTC added roughly $49 million.

The streak has pushed 2026 ETF flows back into positive territory after a multibillion-dollar net outflow earlier in the year. Because these funds buy Bitcoin to back their shares, their flows are widely used as a gauge of fresh demand entering the market. Price, however, has not kept pace with demand, suggesting new buyers are meeting existing holders selling into the $84,000-$87,000 range.

Macro conditions are also capping the upside for now. U.S. Treasury yields recently hit their highest levels since 2007 as traders priced in additional Federal Reserve rate hikes. Higher yields raise the return on cash-like assets and, with it, the opportunity cost of holding non-yielding investments like Bitcoin — a headwind that has limited Bitcoin's gains in recent sessions.

As of Sunday, Bitcoin is trading near $83,150, sitting directly above its rising daily trend support. Bulls need to reclaim $85,000 and then clear $87,000-$88,000 to restart the advance — and with ETF inflows running at their strongest pace of the year, whether that demand can send the price back above $87,000 remains the key question heading into the new week, along with whether the seven-session inflow streak can extend.