Market Update: Bitcoin Spot ETFs See Record Flows as Price Holds Above $124,000

Institutional interest in Bitcoin continues to surge as spot Bitcoin exchange-traded funds (ETFs) record their second-highest daily inflows to date.

The bullish momentum has lifted market sentiment, keeping Bitcoin above $124,000 and signaling renewed investor confidence during October’s upward trend.

According to data from Sosovalue, U.S.-listed spot Bitcoin ETFs saw net daily inflows of $1.19 billion on October 6, marking the highest level this month and the second-highest since these funds launched. BlackRock’s IBIT fund led the inflows with approximately $970 million, followed by Fidelity’s FBTC at $112.3 million and Bitwise’s BITB at $60.1 million.

The data reflects consistent inflows over six consecutive days, totaling more than $4.43 billion, highlighting growing institutional confidence in the crypto market. These inflows coincide with Bitcoin’s recent price surge, which reached a new peak of $126,198 on Monday, driven in part by increasing accumulation from large holders, or “whales.”

Despite a slight pullback, Bitcoin remains firm above key support at $124,000, currently trading around $124,309, representing a 9.2% gain for the week. Momentum indicators show mixed signals: the Relative Strength Index (RSI) has entered overbought territory at 71.29, suggesting a potential short-term pause or minor correction, while the MACD remains positive, indicating ongoing bullish momentum, albeit gradually tapering.

If buyers push Bitcoin above $125,000 and sustain the level, the next targets are $127,000 and $128,500. Conversely, if the price consolidates, the $122,000 area emerges as a critical support zone, consistent with previous breakout levels.

Meanwhile, Ethereum spot and treasury funds continue to hold a substantial share of circulating supply, with flows reflecting broader institutional appetite for digital assets beyond Bitcoin.