Bitcoin Jumps Above $84K After Energy Ceasefire News
Over the weekend, Bitcoin moved above $84,000 after President Donald Trump said Russia and Ukraine had reached a deal to end strikes on energy sites. Even so, U.S. spot Bitcoin ETFs recorded $681 million in net withdrawals for Oct. 5-9, breaking a three-week run of inflows, while spot Ethereum ETFs lost $542 million, including $477 million from BlackRock's ETHA. ITC Crypto's Benjamin Cowen saw Bitcoin closing above $83,000 as evidence buyers remained in charge.
Bitcoin’s weekend rise followed Trump’s statement that Russia and Ukraine would stop targeting energy infrastructure. Meanwhile, U.S. spot Bitcoin ETFs saw $681 million leave during Oct. 5–9, ending three weeks of inflows. Ethereum ETFs lost $542 million; BlackRock’s ETHA accounted for $477 million, about 88% of that total.
ITC Crypto’s Benjamin Cowen viewed Bitcoin closing above $83,000 as buyers retaining control, with sellers yet to prove dominance. He favored steady buying in years after U.S. midterm elections, citing 2018 and 2022 and hoping for similar results in 2026. Middle East attacks and oil-price worries also remained in focus.
If Bitcoin’s rebound holds, retail and institutional investors could see portfolio swings, while ETF outflows may signal caution among some fund managers. Energy ceasefire hopes and Middle East tensions may influence oil prices, inflation, and interest-rate expectations, affecting households, businesses, and crypto holders. However, the situation remains uncertain, so these effects may be temporary or uneven.