Bitcoin began the week on the back foot on Monday, September 28, trading near $83,000 even as U.S. investors kept adding to spot Bitcoin funds. At the same time, Washington's regulatory calendar produced another pause, with the SEC extending its review of options tied to crypto ETFs. Together, the two stories show a market caught between strong institutional demand and lingering macro and policy uncertainty.
Bitcoin Slips as Geopolitics Weighs on Risk Appetite
Bitcoin traded near $83,100 in early Monday trading, down about 1.6% over 24 hours. The pullback followed comments from President Donald Trump, who declined to rule out further strikes on Iran before the U.S. midterm elections. Nasdaq futures softened alongside crypto, while crude oil rose roughly 1% to around $93 a barrel, a combination that typically dampens appetite for risk assets. Major altcoins, including XRP, also gave back their weekend gains.
Over the weekend, Bitcoin briefly tested the $85,000 area but failed to hold it. Market reports now point to the $83,200–$83,500 zone as near-term support, with $85,100–$85,300 acting as the main resistance to clear.
ETF Demand Tells a Different Story
While price action was cautious, flows into U.S. spot Bitcoin exchange-traded funds were not. According to SoSoValue data, these funds attracted about $2.4 billion last week, their strongest weekly inflow since October 2025. On Friday alone, Bitcoin ETFs added roughly $134 million, extending their inflow streak to seven consecutive trading days. Spot Ethereum ETFs also continued to see steady demand, with inflows for six straight days.
The contrast matters. Institutional buyers appear to be using dips to accumulate, even as short-term traders react to headlines. Sustained inflows can provide a buffer against volatility, although they do not guarantee that prices will hold.
SEC Extends Its Review of Crypto ETF Options
On the regulatory front, the SEC postponed its decision on a Nasdaq ISE proposal to set listing standards for options on crypto ETFs. The deadline moved from September 27 to around November 11, 2026, after the agency opted for a longer review period. Such extensions are common for filings of this scale and do not signal a rejection. Options on spot Ethereum ETFs received similar treatment.
For institutional investors, listed options are a key risk-management tool, allowing them to hedge exposure or generate income on existing positions. Approval would deepen the toolkit available around crypto ETFs, while further delays keep that step on hold.
Stablecoin Rules Add to the Regulatory Picture
Earlier this week, on September 24, the Federal Reserve proposed two rules under the GENIUS Act. The first would require payment stablecoin issuers under its supervision to fully back tokens with high-quality liquid assets, such as short-term U.S. Treasury bills, and would set capital and risk-management standards. The second would create an application process for banks seeking to issue payment stablecoins. A 60-day public comment period will begin once the proposals are published in the Federal Register.
What to Watch Next
- Whether the streak of daily ETF inflows continues through the week.
- Geopolitical headlines from the Middle East and their effect on oil and equity futures.
- The SEC's November 11 date for crypto ETF options.
- Industry feedback during the Federal Reserve's stablecoin comment period.
