Bitcoin Price Holds Steady as Institutional Interest Grows
Bitcoin (BTC) is trading above $114,000, with a strong showing from institutional investors. Spot exchange-traded funds (ETFs) have seen their largest inflows in weeks,signaling growing confidence in the market.
At the moment, BTC is valued at $114,400, up 0.5% in the past 24 hours and 1.5% over the week. Over the last month, it has gained 6.1%, nearing the $115,000 resistance level. This puts it just 7.9% below its all-time high of $124,128, reached on August 14.
U.S. spot Bitcoin etfs attracted $429 million in inflows on September 30. BlackRock’s IBIT led with $199.4 million, followed by Ark Invest’s ARKB at $105.7 million, and Fidelity’s FBTC with $54.7 million. This trend supports a positive outlook for October.
- BlackRock’s IBIT led ETF inflows with $199.4 million.
- Ark Invest’s ARKB added $105.7 million.
- Fidelity’s FBTC contributed $54.7 million.
Technical analysis shows neutral momentum but strong support. The 200-day simple moving average at $104,920 provides a solid floor. If BTC breaks above $115,000, it could reach August’s high near $124,000.
Analysts like Carmelo Alemán from CryptoQuant see a bullish market.He projects BTC could hit $180,000 by Q4, driven by large wallet accumulation and cautious miner selling. Global liquidity may also boost BTC’s rise.
While the market structure remains supportive, a bearish turn could retest $110,000. However, if institutional accumulation and ETF demand continue, Bitcoin could reach new highs.
