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Bitcoin ETF inflows hit second-largest daily total
U.S.-listed Bitcoin spot ETFs recorded $1.19 billion in net inflows on October 6, marking the second-biggest single-day haul for the products since their launch and the largest daily total so far this month. The influx underscores growing institutional demand for Bitcoin exposure via regulated funds, a trend that has supported BTC price momentum through early October.
BlackRock leads, Fidelity and Bitwise follow
BlackRock’s IBIT dominated inflows with roughly $969.95 million on the day. Fidelity’s FBTC and Bitwise’s BITB collected $112.3 million and $60.1 million, respectively. Four of the 11 approved spot ETFs reported no net additions that day, including Grayscale’s GBTC, Ark & 21Shares’ ARKB, Valkyrie’s BRRR, and Hashdex’s DEFI.
These funds have now posted inflows for six consecutive trading days, accumulating more than $4.43 billion in total net new capital — a sign that institutional appetite for regulated Bitcoin vehicles remains robust.
BTC price action: strong support above $124K
The ETF inflows coincided with renewed strength in Bitcoin’s price. BTC climbed to an intraday peak of $126,198 on Monday as large wallets continued to accumulate. After a modest pullback, Bitcoin has been consolidating above the $124,000 support zone, trading near $124,309 at the time of writing and up about 9.2% on the week.
Technical indicators and key levels to watch
Momentum indicators offer a mixed read. The Relative Strength Index (RSI) is in overbought territory around 71.29, which can precede a short pause or minor correction. The MACD histogram remains positive, though a slight flattening hints that bullish momentum may be easing.
On the upside, a decisive daily close above $125,000 would open the path toward $127,000 and potentially $128,500 as the next resistance targets. Conversely, deeper consolidation could push Bitcoin back toward the $122,000 support level — a critical zone that aligns with recent breakout levels and prior accumulation.
For market participants, the combination of strong ETF inflows and continued whale accumulation suggests institutional conviction, but traders should monitor RSI and MACD signals for signs of a short-term pullback.
Source: crypto
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