Bitcoin ETF Inflows Reach $5.3 Billion in 3 Weeks, Sustaining $100K Price Level

# Bitcoin Maintains Above $100,000 Amid Volatility; On-Chain Data Indicates Potential Pullback Bitcoin (BTC) has successfully stayed above the significant $100,000 threshold in recent days, even amidst increasing volatility. As of now, the cryptocurrency has reclaimed the $104,000 mark. However, on-chain data hints at a potential price correction in the near future. On October 16 (local time), CryptoTimes reported that Bitcoin spot ETFs experienced a record-breaking monthly inflow of $5.3 billion over the past three weeks. This influx, driven by major players such as BlackRock, Fidelity, and ARK 21Shares, underscores the escalating recognition of Bitcoin as a crucial asset among institutional investors. This scenario has investors keenly monitoring market sentiment, technical indicators, and Bitcoin's future price movements. For those seeking insights, the following trends and signals are essential to watch. # On-Chain Data: Cautionary Signs Amid Increasing Volatility Recent on-chain data shows that Bitcoin whales (large holders) have offloaded over 30,000 BTC in the past three days, capitalizing on the cryptocurrency's price surge. This rise in profit-taking pressure reflects the need for caution in the short term. Meanwhile, CoinGlass’ Bitcoin heatmap highlights the potential for significant liquidations if Bitcoin exceeds the $105,000 level this month. At this price point, short positions totaling approximately $23.65 million (KRW 33.1 billion) could be liquidated, which might intensify market movements. # Bitcoin Price Outlook for October Currently, Bitcoin’s price exhibits relative stability, with fluctuations under 1%. Its trading volume is at $46.23 billion (KRW 64.75 trillion), and its market capitalization has reached $2.065 trillion (KRW 2,892 trillion), securing a market dominance of 62.043%. The Moving Average Convergence Divergence (MACD) indicator on the daily chart shows a consistent decline in green histograms, with the 12-day and 26-day moving averages approaching a bearish crossover. These signals indicate increasing bearish sentiment in the market. Nonetheless, the Simple Moving Average (SMA) indicator has emerged as a robust support level on Bitcoin’s price chart. This suggests that Bitcoin might maintain its upward momentum, offering a potential lifeline for the market bulls. Investors are encouraged to closely monitor these indicators to navigate the volatility and seize potential opportunities in the coming weeks. With institutional interest peaking and market dynamics evolving, Bitcoin’s next move will be pivotal for broader market sentiment.