Bitcoin rebounded nearly 6% from its October low, climbing back above $84,500 after dipping toward $79,800, as fresh institutional inflows and bullish messaging fueled short-term momentum.
The leading cryptocurrency traded near $84,589, up 2.21% over 24 hours, and was approaching the $85,000 level. Spot Bitcoin exchange-traded funds attracted $550 million in fresh inflows, according to the latest data, while traders identified major resistance between $85,000 and $87,500.
On October 21, Strategy executive chairman Michael Saylor posted on X: “The bull market is calling.” The accompanying video showed a suited bull approaching him while he slept. Saylor offered no price target or timeline, but the message reinforced optimism about institutional demand.
Strategy’s latest regulatory filing showed it purchased 267 BTC for approximately $22.1 million between October 12 and October 18, at an average price of $82,900 per coin. That brought its total holdings to 848,517 BTC, acquired for about $64.02 billion. During the same period, the company spent roughly $193.1 million repurchasing STRC preferred shares, while its board increased the share repurchase authorization from $2 billion to $3 billion.
Trader Altcoin Sherpa questioned whether Bitcoin’s move above horizontal resistance would hold, noting the difference between a short-term price advance and a confirmed market structure shift. Traders are expected to watch volume, liquidity and broader financial conditions before treating the recovery as a sustained rally.
