Bitcoin Slips Toward $83,000 as Iran Risk Offsets ETF Inflows, While Bitget Reopens Withdrawals After $388M Hack

Bitcoin Pulls Back From the $85,000 Barrier

Bitcoin traded near $83,100 early Monday, roughly 1.6% lower over 24 hours, after a weekend push toward $85,000 failed to hold. Sunday's high near $85,160 was quickly rejected, and the session range has stretched from about $82,800 to $85,100. Analysts note that a daily close above $85,000 would suggest macro pressure is starting to ease.

Iran Headlines and a Hawkish Fed Weigh on Sentiment

The pullback followed comments from President Donald Trump, who declined to rule out further strikes on Iran ahead of the US midterm elections, keeping geopolitical risk and oil prices in focus. The macro backdrop is already tight. On September 16, the Federal Reserve raised its benchmark rate by 25 basis points to a range of 3.75% to 4.00%, its first increase since 2023, and updated projections point to another hike before the end of the year. Traders are now turning to this week's inflation and jobs data for the next signal on rates.

ETF Demand Provides a Counterweight

Institutional demand remains a notable bright spot. US spot Bitcoin ETFs attracted about $2.4 billion in net inflows last week, the largest weekly total since October 2025, according to SoSoValue data. That included roughly $134.5 million on Friday, September 25, extending the inflow streak to seven consecutive trading days and lifting 2026 net flows back into positive territory at about $934 million.

Bitget Restores Withdrawals After a $388 Million Breach

Away from price action, the biggest security story of the week moved toward recovery. Bitget reopened Bitcoin withdrawals at 08:00 UTC on Monday, four days after suspending them following a September 24 attack in which roughly $387.5 million moved to attacker-controlled addresses.

CEO Gracy Chen said the attacker exploited a vulnerability in a third-party security product, gained high-level internal credentials and used them to send fraudulent withdrawal commands. The exchange says the flaw has been patched, cold wallets and user balances were not affected, and its User Protection Fund will cover the losses.

Ether withdrawals are scheduled to return on September 29, followed by USDT on September 30, with other tokens, fiat services and peer-to-peer trading due back on October 2. Stablecoin issuers Circle and Tether have frozen about $318,000 in assets linked to the attack, while Bitget has offered 5% bounties for freezing or recovering stolen funds. Security firms Mandiant and SlowMist are assisting the investigation. The wider market stayed relatively stable throughout the incident.