Bitcoin Price Again at the heart of Wall Street’s attention. After a week of heavy leaks, the US spot Bitcoin ETF resonated again with a fresh influx of $3.24 billion. At the same time, BTC is pushing $124,000 near its all-time high, at a level that can define whether October will be the month when Bitcoin will invade unknown territory. With BlackRock’s IBITETF leading the fees and Fidelity’s FBTC adding important support, the surge in institutional demand raises one pressing question: Are ETFs trying to drive? Will Bitcoin prices be in the new price discovery stage?
Bitcoin ETF recovers rapidly
The US Bitcoin Spot ETF has posted its second-strongest weekly influx on its record. According to Sosovalue datathese funds won $3.24 billion last week. This is a major shift after the outflow the previous week. To put that into perspective, the surge was only covered once when inflows peaked at $3.38 billion in November 2024.
BlackRock’s IBIT ETF dominated the landscape, attracting $1.8 billion influx and processing billions of dollars in daily trading volumes. With a $96.2 billion managed assets, IBIT has established itself as a heavyweight in this sector. Fidelity’s FBTC brings about $692 million inflows, roughly 38% of IBit’s haul, but still a strong second. In contrast, Grayscale’s GBTC showed a modest influx, but remains overwhelmed by previous outflows.
The total net worth of US Bitcoin spot ETFs is $164.5 billion, accounting for nearly 7% of Bitcoin’s market capitalization. The concentration highlights how important ETFs have become in Bitcoin’s market structure.
Why is the influx surge again?
Emotional reversal appears to be linked to two factors. First, Bitcoin is retesting its record high of around $124,000, first reaching it in August. Historically, October has been one of Bitcoin’s strongest months, often easing momentum at year-end rally. Second, the ongoing US government closures may be creating a risk-on environment. When investors distrust traditional systems and data flows, hard assets like Bitcoin begin to look more appealing.
The $4.14 billion flow swing compared to the previous week highlights how quickly the agency positioning changes. ETF demand served as a proxy for institutional appetite, and now appetite appears bullish.
Can Bitcoin prices be pushed into price discovery in October?
Bitcoin prices have already recovered to 1.37% a week, but if they can break past the $124,000 ceiling, then a real test will be done. If the influx of Bitcoin ETFs continues at the current pace, this month could be a strong fresh, top-high. The inflow of nearly $1 billion daily on October 3 alone suggests momentum is accelerating rather than cooling.
At the same time, Bitcoin ETF data shows concentration risk. With BlackRock holding nearly $100 billion in assets, a sudden reversal of IBIT flows can quickly turn market sentiment over. Traders need to see how they are distributed to the funds, not just the total inflow.
What happens if the flow slows down?
If the influx becomes negative again, the $BTC can be below $124,000 and retesting support bands between $110,000 and $115,000. The market remains very sensitive to liquidity conditions, and ETF demand has become an important barometer of short-term price action. Simply immerse yourself in the enthusiasm from a BlackRock or Fidelity client and it’s enough to trigger the corrective phase.
Outlook: Is the breakout month ahead?
October has the material that will be the breakout month of $bitcoin. Powerful ETF influx, seasonal tails, and macro uncertainty all leaps in favor of higher prices. The important line to look at is $124,000. A clean breakout above, backed by a multi-billion dollar ETF influx, was able to launch Bitcoin into unknown territory and set the stage for the fourth rally.
However, if the momentum is fading, expect integration before the next leg is high. The determinant is not the retail FOMO this time. This is an institutional flow through ETFs.
