5,900 Bitcoins Flow Into ETFs: Is BTC Finally Heading Toward $120,000?

Bitcoin is experiencing a resurgence that has caught the attention of investors worldwide. U.S. spot ETFs have just recorded their largest inflow since July – more than 5,900 BTC in a single day. This strong signal comes as the cryptocurrency stabilizes above $114,000, fueling hopes it could once again test the critical milestone at $120,000.

Institutions Return to the Game On September 10, Bitcoin ETFs saw their biggest daily inflow in nearly two months. This alone was enough to bring the weekly balance back into positive territory, signaling that institutional players are once again stepping into the market. ETF flows often reflect the sentiment of professional investors. The return of steady inflows confirms renewed demand for Bitcoin at current price levels. If this trend continues, it could become the catalyst for a breakout above the psychological barrier of $120,000.

Whales Are Accumulating Another important development comes from Bitcoin whales. According to on-chain data, the ratio of large holder transfers compared to smaller retail wallets has increased in the past day. This indicates accumulation by major players – and historically, whale accumulation has often preceded the start of stronger bullish trends.

Derivatives Signal Confidence The derivatives market is also showing strength. Open interest in Bitcoin has been rising steadily since April and now stands at around $42 billion. This means traders are putting more capital into their positions. Rising open interest is typically viewed as a strong sign of growing confidence in Bitcoin’s short-term direction.

The Bigger Picture Despite the optimistic outlook, risks remain. Bitcoin’s bullish setup depends on its ability to hold support above $114,000. If this support level holds, the path toward testing $120,000 becomes clearer. However, a drop below support could quickly dampen optimism and push Bitcoin back into a broader consolidation range.

Bitcoin is now at a decisive point: either institutional inflows drive the next leg higher, or consolidation pulls it back below a key threshold.

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