Bitcoin slips back below $85K as ETF demand fades

Bitcoin has slipped back below the $84,000-$85,000 band that briefly gave way around its September high, with Glassnode saying the move comes as ETF demand has faded, volatility has compressed and sellers have remained relatively restrained. The report, published Oct. 28, 2026, framed the market as range-bound ahead of the Federal Reserve decision later that day. Glassnode said most of the $653 million that flowed into U.S. spot bitcoin ETFs on Oct. 19 had already left again by Oct. 22, including $540 million out that day, leaving just $67 million net inflows over the prior two weeks. It also said ETF trading volume has been thin since May, averaging about $1.3 billion a day and falling to about $700 million on Oct.

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