Bitcoin ETFs Surge as BTC Price Hits $120,000, Boosting Investor Confidence
Bitcoin has reclaimed the $120,000 mark, signaling a strong market recovery. The digital asset reached an intraday high of $120,550 before settling at $119,903. this price surge reflects renewed optimism in the crypto market.
Over the past four days, Bitcoin ETFs have seen a massive inflow of $2.25 billion. This indicates growing institutional interest. In the latest trading session, inflows reached $627.24 million. blackrock’s IBIT led with $466.55 million,followed by Fidelity’s FBTC and ARKB.
Ethereum ETFs also joined the rally, attracting over $1.06 billion in the same period. However, their daily inflow of $307.05 million was lower than Bitcoin’s.
Technical indicators show a strengthening market.The RSI is at 64.38,indicating strong buying pressure. The MACD histogram is widening, confirming continued momentum.
Bitcoin faces resistance at $120,550. A daily close above this level could push prices to $123,000. If selling pressure emerges, BTC may revisit support near $117,000.
As ETFs continue to draw investor capital, Bitcoin’s return to the $120,000 zone marks a key milestone in its recovery. October, often called “Uptober,” is showing promising trends for the crypto market.
