Bitcoin has reclaimed the $120,000 level for the first time in weeks, signaling renewed strength across the crypto market. The leading digital asset hit an intraday high of $120,550 before settling around $119,903 at press time, according to crypto.news data. On the charts, BTC has gained 1.17% over the past 24 hours and 9.71% over the week.
This price rebound has coincided with robust institutional interest through spot Bitcoin ETFs. Between Sept. 29 and Oct. 2, Bitcoin ETFs recorded more than $2.25 billion in inflows, highlighting renewed investor confidence. In the latest trading session alone, inflows totaled $627.24 million.
Among issuers, BlackRock’s IBIT led with $466.55 million, followed by Fidelity’s FBTC at $89.62 million, and ARKB, the ARK-21Shares collaboration, at $45.18 million.
Ethereum ETFs also participated in the rally, pulling in over $1.06 billion during the same four-day stretch. Their latest daily inflow of $307.05 million, however, remained below that of Bitcoin ETFs.
The combination of ETF inflows and Bitcoin’s price momentum points to growing investor optimism as October—often dubbed “Uptober” for its bullish tendencies—takes hold. Technical indicators reinforce this sentiment: the RSI sits at 64.38, signaling strong buying pressure, while the MACD histogram continues to widen with a bullish signal line, suggesting the uptrend may have more room to run.
Bitcoin faces near-term resistance around $120,550, and a daily close above this level could pave the way for further gains toward $123,000. On the downside, renewed selling pressure could push BTC back to support near $117,000, a critical zone where buyers have historically stepped in. With ETFs continuing to attract investor capital and market sentiment strengthening, Bitcoin’s return to the $120,000 range represents an important milestone in its ongoing recovery.
