Bitcoin Price Stalls at $84.5K as Market Debates Potential Retracement

Bitcoin [BTC] faced rejection at the $84.5k supply zone after rising from a low of $82,563 to $84,564 by September 29. Despite high market sentiment, analysts noted that 45,054 BTC from short-term holders moved to exchanges, signaling potential sell-side pressure. A whale transfer of 4,500 BTC, valued at approximately $380 million, has fueled speculation regarding a deeper price reset. Additionally, weak spot demand relative to futures volume on Binance, with a spot-to-futures ratio of 0.12, suggests that speculative demand currently outweighs steady spot accumulation.