Bitcoin slips below $82,500 as ETF inflows hit $1 billion but resistance holds

Bitcoin pulled back after briefly rallying above $84,000 on Wednesday, slipping 0.3% over the past 24 hours to trade below $82,500. The cryptocurrency’s momentum has stalled as sellers maintain pressure near key resistance levels. Buyers attempted to extend the recent recovery, supported by improved derivatives positioning and efforts to defend the lower edge of Bitcoin’s trading range. Despite these attempts, the presence of major sell orders and liquidation levels between $84,000 and $87,000 limited further advances. Open interest in Bitcoin futures across major exchanges rose 4.2% from its October 12 low, reaching $52.60 billion by October 20. Over the last 24 hours, open interest increased further to $53.66 billion. However, this rise did not propel Bitcoin’s price beyond the $85,000 mark.

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