Bitcoin is cooling off after an $87K breakout. But the interesting part is what’s happening underneath the price. 👀 $BTC pushed above $87K earlier this week, but has since pulled back toward the $84K area as yields and macro pressure returned. Yet institutional demand hasn't disappeared. U.S. spot Bitcoin ETFs recorded another $190M+ inflow on September 24, extending the inflow streak to six consecutive sessions. Across Monday–Thursday, Bitcoin ETFs attracted roughly $2.25B. And this is where the current rally gets interesting. The move started with strong spot demand. Then leverage joined. Futures traders added more than $2B in open interest as Bitcoin moved higher, meaning more capital is now positioned for the continuation of the trend. That's both bullish and dangerous. If ETF and spot demand continue, Bitcoin has a stronger foundation to challenge the $90K area. But if leverage keeps expanding faster than real spot demand, every pullback can become much more violent. ETF flows are the fuel. Leverage is the accelerator. Price action is the test. The next question isn't whether Bitcoin can touch $90K. It's whether $BTC can get there without becoming too dependent on leverage. Would you rather see BTC climb slowly with strong spot inflows, or make a fast move powered by leverage?