Bitcoin ETFs see second-highest inflow day as BTC price holds above $124K
Bitcoin ETFs just logged their second-highest inflow day as institutional interest surrounding BTC continues to rise after the flagship crypto’s new peak on Monday.
- Bitcoin ETFs pulled $1.19 billion in net inflows on October 6.
- BlackRock’s IBIT led with $969.95 million, followed by Fidelity’s FBTC and Bitwise’s BITB.
- Bitcoin price holds support at $122,000 and could climb to $127,000 and $128,500 if positive sentiment remains.
Bitcoin ETFs have recorded the second-highest day as positive sentiment swarms the crypto market and BTC price holds above $124,000. The rally signals a wave of renewed investor interest amid October’s bullish momentum.Â
According to data from Sosovalue, U.S.-listed Bitcoin (BTC) spot ETFs attracted $1.19 billion in total net inflow on October 6. This marks the highest so far this month, and the second-highest since their debut.
BlackRock’s IBIT led the inflow charts with approximately $970 million. Meanwhile, Fidelity’s FBTC and Bitwise’s BITB followed with $112.3 million and $60.1 million, respectively. In contrast, four out of the 11 approved ETFs registered no inflows, including Grayscale’s GBTC, Ark & 21Shares’ ARKB, Valkyrie’s BRRR, and Hashdex’s DEFI.
The funds are now locked in a six-day inflow streak, totaling over $4.43 billion as institutional sentiment strengthens.
Bitcoin ETF inflows surge as price holds firm
The strong inflows into U.S.-listed funds come as Bitcoin’s price has trended upward in recent days. The crypto king soared to a new peak of $126,198 on Monday as whale accumulation increased.Â
Despite a minor pullback, BTC continues to consolidate above key support at $124,000. At the time of writing, the asset trades at $124,309, up roughly 9.2%, on the week.
Momentum indicators are flashing mixed signals. The Relative Strength Index (RSI) has crossed into overbought territory at 71.29, indicating a potential pause or minor correction. The MACD histogram remains positive, though a slight flattening suggests fading bullish momentum.
If bulls break and close above $125,000, eyes shift to $127,000 and $128,500 as the next targets. However, should consolidation deepen, $122,000 stands out as a key support zone to watch, aligning with prior breakout levels.
