Bitcoin remains under pressure after recovery attempt

Bitcoin remains one of the most volatile assets in the global financial market in September. After a sharp decline in the first half of the month, the cryptocurrency managed to climb back above $85,000, but has not yet been able to establish itself near important resistance levels. On September 24, BTC is trading around the $83 thousand range.

At the same time, bitcoin is still about 33% below its historical maximum of around 126.2 thousand dollars. Thus, despite the recent recovery, the market is still significantly below peak values. The historical maximum of about $126.2 thousand is indicated in the BTC price history data.

Why bitcoin came under pressure

One of the main reasons for the September weakness of the crypto market was the situation around US monetary policy.

On September 16, the Federal Reserve raised the interest rate by 0.25 percentage points to 3.75–4.00%. This was the first Fed rate hike since 2023. Higher interest rates usually put additional pressure on risky assets, as the yields on relatively safe instruments become more attractive.

At the same time, bitcoin's reaction turned out to be mixed: a significant part of the rate hike had been priced in beforehand. Therefore, immediately after the Fed's decision, BTC did not crash, and then was able to recover.

Much more important was the change in expectations regarding the future policy of the American central bank. Investors are concerned about inflation, including against the backdrop of high oil prices, as well as the possibility of further monetary tightening. Reuters noted that rising oil prices intensified inflation fears and contributed to higher US bond yields.

For bitcoin, this is a negative factor: the cryptocurrency is still largely perceived by the market as a high-risk asset, sensitive to liquidity and the cost of money.

The second factor — outflows from Bitcoin ETFs

Another reason for the pressure was American spot bitcoin ETFs. In September, demand for ETFs noticeably weakened. In particular, in the four days leading up to September 11, cumulative outflows from American spot Bitcoin ETFs amounted to about $462.7 million, breaking a three-week streak of inflows totaling about $3.8 billion.

Later the pressure intensified: in mid-September, ETFs recorded a particularly strong day of outflows — about $450 million.

For bitcoin, this is a very important indicator. In 2026, institutional demand through ETFs became one of the main sources of market liquidity. When funds actively buy BTC, they can absorb a significant portion of the supply. But when outflows begin, seller pressure becomes more noticeable.

Therefore, investors are now closely monitoring not only the BTC chart, but also the daily flows into American crypto ETFs.

How far has bitcoin already fallen from its peak

The historical maximum of bitcoin is approximately $126.2. On different exchanges, the maximum differs slightly. For example, on Binance, the maximum was recorded at $126,199.63.

In September, BTC dropped to about 75 thousand on September 16–17. Thus, the maximum decline from the historical peak was about 40%. This is already a very serious correction.

However, then the situation changed. On September 21, bitcoin began to recover sharply, and on September 22 it rose above $87 thousand. On September 23, a new pullback occurred, after which on September 24 BTC is approximately in the range of $82,800 - 84,700 per coin. Thus, from the maximum, bitcoin has now lost about 33%, and from the September minimum it has already regained about 13%.

This is an important point: it would be incorrect to talk about the continuation of a direct collapse now. The market is trying to form a new range after a strong decline.

Which levels are especially important

From a technical point of view, several zones can now be identified.

$85–87 thousand

This is the nearest resistance zone. It is precisely around $85–87 thousand where an important barrier for buyers lies. If bitcoin can sustainably consolidate above this zone, market attention may shift again to $90 thousand and above.

But for now, every approach to $86–87 thousand is accompanied by seller activity.

$80 thousand

A psychologically important mark. If BTC falls below $80 thousand again, it would mean a weakening of the recent recovery. In that case, the market may start testing the September lows again.

$75 thousand

One of the most important support levels. It was precisely around $75 thousand in September where the lows were set. If this zone is broken downwards, the probability of a continued correction will increase significantly.

$72–74 thousand

The next potential support zone. Some market technical assessments in September considered the $72–74 thousand range as a possible next target on a sustained break below $76.5 thousand.

$65–68 thousand

This would already be a much deeper correction. If sell-offs intensify and the situation on global markets worsens, bitcoin may return to the levels of spring 2026. In March, BTC traded approximately in the $65,000 – 76,000 range, and the April maximum was around $79,500 per coin.

Therefore, the $65–68 thousand zone may be considered as the next major level of buyer interest in a deep decline.

$58–60 thousand

An even more negative scenario. In June 2026, bitcoin already dropped to approximately $58,000. So a return to this zone would mean virtually a complete erasure of a significant part of the summer recovery. At the same time, the fall from the historical maximum of $126,200 to $58,000 would be about 54%.