Bitcoin Soars With $3.5B ETF Lift — Eyes Locked on $120K
Bitcoin surged past $116,000 today, powered by an estimated $3.5 billion in ETF capital inflows, as the market eyes a potential push toward $120K.
Bitcoin breakout has momentum behind it: FXLeaders reports that the rally above $116,000 is supported by ETF inflows of around $3.5 billion during late September.
This influx is seen by analysts as more than short-term noise—it suggests structural accumulation from institutional buyers. As miners ease their sell pressure and HODLers hold firm, the balance is tilting in favor of upside continuation.
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On the technical front, Bitcoin’s breakout from consolidation appears solid. Chartists highlight the formation of a golden cross (when the 50-day EMA moves above the 200-day EMA) as a bullish long-term signal. However, overbought indicators warn of possible pullbacks before further acceleration.
If momentum holds, $120,000 is the next target, but resistance zones around $117,900 to $119,300 may test buyers. On the downside, support sits near $114,800–$115,200 and deeper at $113,700.
In sum, the rally is looking more validated than speculative—ETF inflows, structural support, and bullish technicals all aligning to favor continuation, though volatility should not be discounted.
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