Bitcoin ETFs are back in the green as price surges back to $120,000, signaling renewed institutional confidence amid hopes of further upside in Uptober.
Summary
- Bitcoin ETFs have logged four consecutive days of inflows totaling $2.25 billion.
- BlackRock’s IBIT leads the latest trading session with $466.55M in inflow, followed by Fidelity and ARK & 21Shares.
- Bitcoin price soared to a $120,550 intraday high before retracing to $119,912.
- BTC faces resistance at $120,550 with a potential rally to $123,000 if a breakout occurs.
Bitcoin has reclaimed the $120,000 mark for the first time in weeks, showing renewed strength across the crypto market. The leading digital asset surged to an intraday high of $120,550 before settling around $119,903 at press time, according to crypto.news data. On the daily and weekly charts, BTC has posted gains of 1.17% and 9.71%, respectively.
This strong price rebound has been accompanied by sustained institutional interest through spot Bitcoin (BTC) ETFs. Over the past four days between Sept. 29 and Oct. 2, Bitcoin ETFs recorded over $2.25 billion in inflows, underscoring renewed investor confidence. In the most recent trading session alone, inflows totaled $627.24 million.
Among the issuers, BlackRock’s IBIT led the pack with $466.55 million in inflows. Fidelity’s FBTC followed with $89.62 million, while ARKB, the joint offering from ARK and 21Shares, attracted $45.18 million.
Ethereum ETFs also joined the rally, pulling in over $1.06 billion over the same four-day period. However, their latest daily inflow of $307.05 million was still lower than that of their Bitcoin counterparts.
Bitcoin ETF inflows strengthen as price targets more upside
The ETF inflows, combined with the upward momentum in Bitcoin’s price, point to increasing investor optimism as October, often dubbed “Uptober” for its bullish trends, gains traction. Technical indicators reflect a strengthening market, with RSI currently sitting at 64.38, suggesting heightened buying pressure. The MACD histogram is also widening, and the signal line remains bullish, confirming continued momentum.
However, Bitcoin faces near-term resistance around $120,550. A daily close above this level could trigger further upside toward $123,000.
Conversely, if selling pressure emerges, BTC may revisit support near $117,000, a key area where buyers previously stepped in.As ETFs continue to draw investor capital and market sentiment improves, Bitcoin’s return to the $120,000 zone marks a key milestone in its ongoing recovery.
