Spot Bitcoin ETFs Record $1.08B In 4-Day Volume: Fueling Price Momentum

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Bitcoin is holding strong above the $120,000 level, reinforcing bullish sentiment after a series of volatile weeks. The market now turns its focus to the $125,000 mark, which analysts describe as a critical resistance zone. A decisive break above it could open the door to fresh all-time highs, but for now, traders remain cautious as this level has historically attracted strong selling pressure.

Despite the looming resistance, optimism is growing among bullish analysts who see room for continuation in the current cycle. The argument is supported by renewed institutional interest and robust inflows into Bitcoin investment products. Top analyst Maartunn recently shared insights pointing to a key driver of this momentum: Spot Bitcoin ETFs.

According to Maartunn, these ETFs have generated high trading volumes over the past several days, providing a steady stream of demand that is pushing prices higher in unison. This collective effect underscores how institutional vehicles are playing an increasingly central role in shaping Bitcoin’s price action.

Spot ETF Volume Surges as Bitcoin Faces Uncertain

Maartun has highlighted fresh data showing that Spot Bitcoin ETFs have processed $1.08 billion in trading volume over the last four days, adding fuel to Bitcoin’s latest push above the $120,000 level. This volume surge supports Maartun’s view that ETFs are playing a central role in sustaining Bitcoin’s bullish momentum, providing consistent inflows that are keeping demand elevated. In his analysis, such strong institutional participation reflects growing confidence in Bitcoin as an asset class, especially as it continues to gain traction among US investors.

However, the picture isn’t entirely clear-cut. The coming days promise to bring heightened volatility, with macroeconomic uncertainty weighing heavily on risk assets. Tightening financial conditions—driven by persistent inflation concerns and cautious Federal Reserve policy—have already begun to limit liquidity across markets. On top of that, the looming threat of a US government shutdown injects an additional layer of instability. Historically, events of this nature have impacted investor confidence, creating sharp swings in both equities and crypto.

Against this backdrop, Bitcoin finds itself at a critical juncture. If ETF-driven demand continues, BTC could decisively break higher, targeting fresh all-time highs beyond $125,000. On the other hand, should macro pressures intensify and liquidity dry up, Bitcoin could face a sharp correction, potentially marking the beginning of a more prolonged bearish phase.

BTC Price Analysis: Testing $120K Level

Bitcoin is holding above $120,000, a level that has quickly become a focal point for both bulls and bears. The chart shows BTC reclaiming momentum after bouncing strongly from the $112,000–$113,000 zone last week, where the 100-day moving average provided key support. The decisive break above $117,500 resistance marked the start of this rally, and BTC has now pushed into the $120K region, a level that previously acted as heavy resistance in August.

Short-term momentum looks bullish, as the daily candles show a sequence of higher lows and strong buying pressure. The 50-day moving average has turned upward, aligning with the broader bullish structure. However, BTC now faces the challenge of consolidating above $120K to target the $122,500–$125,000 zone, which analysts view as the next critical resistance before new all-time highs.

On the downside, $117,500 now acts as a strong support level. If Bitcoin fails to sustain above $120K, a retest of this zone would not necessarily break the bullish structure but could extend consolidation.

Featured image from ChatGPT, chart from TradingView.com

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