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.

Summary

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.

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.

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.

BTC price chart | Source: crypto.news

Source: https://crypto.news/bitcoin-etfs-see-second-highest-inflow-day-as-btc-price-holds-above-124k/

The Securities and Exchange Commission has approved standards that could speed up spot crypto ETF approvals, as each application would not been to be assessed individually. The US Securities and Exchange Commission has approved a set of listing standards for commodity-based trust shares, opening the door for digital asset listings without requiring individual approvals. The decision, detailed in SEC filings on stock exchanges like the Nasdaq, NYSE Arca, and Cboe BZX, on Wednesday, would streamlines the process under Rule 6c-11, significantly reducing approval timelines, which have taken several months in the past. “By approving these generic listing standards, we are ensuring that our capital markets remain the best place in the world to engage in the cutting-edge innovation of digital assets,” SEC Chair Paul Atkins said in a separate statement.It comes as spot ETF applications for the likes of Solana (SOL), XRP (XRP), Litecoin (LTC) and Dogecoin (DOGE) await official approval.The SEC was facing deadlines from October onwards to decide on those cases, in addition to a handful of others.This is a developing story, and further information will be added as it becomes available.Read more