Bitcoin Rises to $113.7K Amid ETF Inflows, ‘Uptober’ Hype

Key TakeawaysBitcoin price gains 1.69% as ETF inflows top $522M in 24 hours.BTC reclaims 50-day EMA, signaling short-term bullish momentum.“Uptober” sentiment builds, with October historically averaging +27% returns. ETF Inflows Signal Renewed Institutional InterestSpot Bitcoin ETFs recorded $521.95 million in net inflows on September 29, reversing a two-day outflow streak. Fidelity’s FBTC led the surge with $298.7 million, while Grayscale’s GBTC posted an inflow of $26.9 million.Data from SoSoValueThis return of institutional capital has amplified buy-side pressure in the market. Notably, BlackRock’s IBIT now leads Deribit in options open interest, highlighting increasing institutional engagement and deepening Bitcoin ETF liquidity.Analysts suggest that sustained ETF flows will remain a key driver of Bitcoin price movements, especially as the market awaits SEC decisions on Ethereum staking-related ETFs. Technical Indicators Reflect Short-Term Bullish BiasBitcoin rebounded off $108K support and now trades above the 50-day EMA at $113,396. While the Relative Strength Index (RSI) sits at a neutral 53.56, the Short-Term Holder MVRV has dipped into oversold territory—often a precursor to price rebounds.However, the MACD remains negative at -256, and the $115K mark, aligning with the 23.6% Fibonacci level, presents immediate resistance. A close above this level would further confirm the ongoing bullish momentum. Macro Tailwinds and ‘Uptober’ Sentiment Add SupportOctober has historically been Bitcoin’s best-performing month, with average returns of +27% since 2017. The Fear & Greed Index rose from 39 (“Fear”) to 43 (“Neutral”) over the past week, reflecting improving market confidence. Outlook: Can BTC Break $115K and Sustain Momentum?Bitcoin’s latest rally combines technical recovery, institutional ETF demand, and favorable macro conditions. But whether the Bitcoin price can sustain its gains may depend on a decisive break above $115K.Investors will be closely watching ETF flow trends and macro updates throughout October. A strong close above resistance could reinforce bullish sentiment and open the door for further gains in line with seasonal patterns.