Bitcoin Above $120K Could Be Driven by $2.25B in ETF Inflows and Macro Uncertainty

• BTC ETF inflows topped $2.25B in four days, lifting Bitcoin prices.

• Macro-driven risk rotation and a sidelined jobs report accelerated buying in crypto.

• Altcoin momentum exists but BTC dominance (58%) and ETH/BTC weakness keep Bitcoin in the lead.

Bitcoin surge past $120k: BTC ETF inflows and macro uncertainty fuel upside — read the market update and what traders should watch next.

What is driving Bitcoin’s surge past $120k?

Bitcoin surge is driven primarily by large BTC ETF inflows, macro uncertainty and rotation into risk assets. Institutional purchases—led by notable ETF sessions—have pushed BTC above $120k while realized profit-taking remains measured, supporting continued upside in the near term.

How large are ETF inflows and why do they matter?

Over the last four days, BTC ETF inflows exceeded $2.25 billion, with BlackRock’s IBIT reporting a single-session contribution of $466.55 million. These flows signal rising institutional confidence and increase demand pressure on Bitcoin’s supply, which often precedes extended bullish runs.

Frequently Asked Questions

Is $120k a sustainable floor for Bitcoin?

Measured realized profits (~$3.7B) versus mid-July peaks (~$6B) imply disciplined selling, not panic. Combined with ETF inflows and two higher lows formed on BTC charts, $120k can act as a near-term support while monitoring macro catalysts.

Are altcoins keeping up with Bitcoin’s rally?

Altcoins show momentum: BNB hit a new ATH at $1,112 and the Altcoin Season Index bounced from 65. But Bitcoin dominance remains ~58% and the ETH/BTC ratio is under pressure, indicating the market’s leadership still favors BTC for now.

ETF inflows fuel Bitcoin’s Uptober momentum

Bitcoin ETFs recorded sizable inflows over multiple sessions, totaling more than $2.25 billion in four days. Institutional activity has concentrated on BTC, increasing demand and helping lift prices past $120k.

Data snapshot: Farside Investors reported the ETF inflows; IBIT alone added $466.55 million in a single session. Ethereum ETFs meanwhile saw approximately $1.06 billion, reinforcing a roughly 2x institutional preference for BTC over ETH during this window.

Source: CoinMarketCap (plain text)

Technical and on-chain signals

Realized profits during the latest leg up totaled about $3.7 billion, well below the $6 billion peak seen in mid-July. That differential suggests profit-taking is controlled rather than panic-driven, which supports the sustainability of gains.

The ETH/BTC ratio is down 0.08% intraday and remains below the 0.040 resistance, while BTC dominance sits around 58%. Those metrics reinforce the narrative that money is currently flowing into Bitcoin ahead of many altcoins.

Source: Farside Investors (plain text)

History in the making? Do BTC charts mirror 2017?

Market structure shows two higher lows—the latest at ~$108k—followed by a bounce to $120k. By comparison, 2017 saw a similar multi-leg advance into Q4 that produced a parabolic rally. While history is not destiny, comparable technical setups and strong ETF demand make a Q4 acceleration plausible.

Source: TradingView (BTC/USDT) (plain text)

Key Takeaways

• Institutional demand: BTC ETF inflows topped $2.25B, pushing prices higher.
• Measured selling: Realized profits (~$3.7B) are below prior peaks, indicating balanced profit-taking.
• Market structure: Two higher lows and sustained BTC dominance make $120k a potential short-term support.

Conclusion

Bitcoin’s surge past $120k is rooted in strong BTC ETF inflows, macro-driven risk rotation and disciplined profit-taking. While altcoins show pockets of strength, BTC dominance and institutional flows position Bitcoin as the primary market driver. Monitor ETF flows, BTC.D and ETH/BTC for confirmation of the next leg higher.