Bitcoin surpassed the $120,000 mark for the first time in weeks, demonstrating a recovery. This sharp price surge was accompanied by sustained institutional investor interest in spot bitcoin ETF.
Over the past four days, from September 29 to October 2, inflows into BTC funds exceeded $2,25 billion, indicating increased investor confidence. On the last trading day alone, investors poured in ETF nearly $627,24 million
Among the issuers, IBIT from BlackRock was the leader, with an inflow of funds amounting to $466,55 million. It is followed by FBTC from Fidelity with an inflow of $89,62 million, and ARKB from ARK and 21Shares raised nearly $45,18 million.
Efirium-ETF also joined the rally. In four days, the funds attracted more than $1,06 billion. However, their most recent daily inflow of $307,05 million was still lower than their Bitcoin-competitors.
Inflow of funds into ETF Combined with the rising price of Bitcoin, this indicates growing investor optimism. Furthermore, October often proves to be a strong month for the crypto market due to its bullish trends. Technical indicators reflect market strengthening, with the RSI currently at 64,38, indicating increasing buying pressure. The MACD histogram is also widening, and the signal line remains bullish, confirming continued momentum.