- Bitcoin price breakout from $125,000 psychological mark signals the continuation of a bull cycle within a channel pattern.
- The cumulative total net inflow of U.S.-based spot ETFs surpasses the $60 billion mark, signaling ongoing capital inflows into institutional-grade Bitcoin exposure.
- BTC’s fear and greed index bounced to 70%, suggesting a bullish sentiment among market participants.
The crypto market Uptomber is living up to its expectations as the Bitcoin price hits a new high of $126,272 on Monday. The buying pressure followed a renewed recovery after a sharp correction in the last two months. The institutional adoption, whale accumulation, ETF inflows, and retail interest are driving the price of this digital gold. Will the rally continue, or is another dip close?
Bitcoin Hits $126K as ETFs See $6.49B Trading Surge
On October 6th, the Bitcoin price jumped over 1% to reach a new high of $126,272. Consequently, the asset’s market capitalization jumps to $2.48 trillion.
The spike coincided with a sharp surge in the U.S.-listed spot Bitcoin exchange-traded funds (ETFs), which collectively saw $6.49 billion worth of value traded on the day.
BlackRock’s IBIT was the largest of the funds with $4.89 billion, followed by Fidelity’s product at $699.1 million. Combined, these spot products have absorbed nearly $60 billion since they were introduced, indicating that capital flows into institutional quality Bitcoin exposure are still strong.
On-chain analytics gave another perspective on things that happened during the week. CryptoQuant’s data indicated that there was a sharp outflow of Bitcoin from exchanges, and the 14-day SMA of Exchange Netflow is in the -averaged outflow direction of -7500 BTC. The magnitude of this outflow is described as the biggest since 2022-2023, which is a period that previously saw high withdrawals from trading platforms.
Interestingly, the decrease in exchange balances is playing out while Bitcoin trades at record levels. CryptoQuant analysts indicate that investors continue to pull coins out of exchanges despite the fact that prices are still high, a continuation of the trend toward self-custody or long-term storage.
This sort of behavior generally indicates confidence in longer-term value and a reduction in the selling pressure of short-term holders – suggesting that long-term accumulation is likely to remain high among larger holder groups despite the market near its historical highs.
Bitcoin Price Drives Bulls Cycle Within Channel Pattern
In the last two weeks, the Bitcoin price showed a high momentum rally from $108,676 to a recent high of $126,272, accounting for a 16.2% gain. This upswing in the daily chart shows the continuation of a rising channel pattern that has been driving a steady uptrend in BTC since late April 2025.
The recent history of this pattern shows that the BTC price has been actively resonating between the dynamic resistance and support trendline. If history repeats, the coin price is poised for another 7.8% surge before it hits the overhead trendline at $135,000.
The momentum indicator, RSI, above the 73% mark, signals the bullish momentum and potential for higher value. In addition, the sharp incline in daily exponential moving averages (20, 50, 100, and 200) accentuates the broader bullish sentiment in price. However, the daily chart candles recorded a higher length wick near the $125,000 mark, indicating an overhead supply acting on the price.
Thus, the anticipated rally could face an occasional pullback to recoup its exhausted bullish momentum before the next leap.
Also Read: Bands.fun Unveils Programmable On-chain ETFs on Solana
