Bitcoin Price Prediction: $1.18B ETF Inflows Push BTC Toward $160K Rally

Bitcoin is trading near $122,030, down approximately 1.99% in the past 24 hours, but still maintaining strong momentum after breaking new highs. U.S. spot Bitcoin ETFs recorded $1.18 billion in inflows on Monday — the second-largest daily inflow since launch. The surge in demand came as BTC touched a new all-time high near $126,000, reflecting renewed investor enthusiasm and institutional confidence.

So far this month, inflows have totaled $3.47 billion in just the first four trading days of October, pushing total assets across U.S. Bitcoin ETFs close to $60 billion. BlackRock’s iShares Bitcoin Trust (IBIT) led the inflows with $967 million, bringing its total holdings to approximately 783,767 BTC, valued at nearly $98.5 billion.

Such sustained institutional demand reinforces BTC’s growing status as a legitimate investment vehicle, bridging the gap between traditional finance and digital assets.

Gold Rally Strengthens Long-Term Outlook

As gold prices surpassed $4,000 per ounce, analysts at VanEck projected Bitcoin could eventually hit $644,000 if it captures even half of gold’s market value by the 2028 halving. The comparison reflects a deepening belief that Bitcoin now functions as a digital version of gold — scarce, portable, and increasingly used as a hedge against inflation.

Rising tariffs, a weakening U.S. dollar, and global uncertainty continue to drive capital into hard assets like gold and Bitcoin. Many younger investors, particularly in emerging markets, now view Bitcoin as the superior store of value, signaling a generational shift away from traditional safe havens.

This growing alignment between gold and Bitcoin suggests that as institutional adoption accelerates, both assets could rise in tandem, reinforcing BTC’s reputation as a digital counterpart to precious metals.

Bitcoin Technical Analysis: Bullish Setup Holds

On the technical front, Bitcoin remains in a strong uptrend despite short-term pullbacks. Price action is supported by both the 50-day simple moving average (around $120,462) and the 100-day SMA ($116,215), confirming that the structure remains intact.

The chart shows a Bearish Butterfly harmonic pattern nearing its Potential Reversal Zone (PRZ) between $128,000 and $130,000, where temporary resistance may appear. However, the Relative Strength Index (RSI) has cooled to around 48, suggesting healthy consolidation after prior overbought readings.

If Bitcoin maintains support above $121,700, it could retest $126,200 and move toward $130,000. A confirmed breakout above this range would invalidate the bearish setup and potentially open a path to $160,000 in the coming months.

Overall, Bitcoin’s price action points to strength, not fatigue. With record ETF inflows, institutional participation, and macro tailwinds converging, BTC’s current consolidation may simply be the calm before its next major rally.

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