Bitcoin ETFs Defy Price Dip, Continue to Attract Inflows
Despite the recent decline in Bitcoin’s price, Bitcoin Exchange-Traded Funds (ETFs) are still experiencing a surge in inflows, with a total of $876.5 million recorded on October 7. This marks the seventh consecutive day of gains for the funds, adding to the $4.43 billion attracted over the past six days amid Bitcoin’s recent rally. According to data from SoSoValue, BlackRock’s IBIT made up the majority of the inflows, with $899.4 million, followed by Valkyrie’s BRRR with a modest $4.8 million.
Grayscale’s GBTC, however, experienced outflows of roughly $28.6 million, marking the only fund with withdrawals. The rest of the eight funds, including Fidelity, Invesco, and Bitwise, posted no net activity. This suggests that profit-taking is already picking up among institutional investors, along with broader cooling as the asset’s price retreats from the month’s peak. The continued inflows into Bitcoin ETFs demonstrate the ongoing interest and confidence in the cryptocurrency, despite the recent price dip.
Bitcoin Price Drops on Daily Chart
At the time of writing, the flagship cryptocurrency trades at $122,392, down 1.5% over the past 24 hours. The decline follows a near two-week rally that began from the $108,000 region. Today’s bearish candle reflects hesitation around the $124,000 resistance level, where BTC faced rejection before sliding lower. Despite the retreat, indicators suggest the correction is healthy, with the RSI cooling to 63.35, showing that momentum is resetting.
Volume has also declined, indicating the sell-off lacks strong conviction. The MACD remains in bullish territory, with the histogram still widening and the MACD line comfortably above the signal line. So long as Bitcoin holds above $120,000, the broader structure stays bullish, and the market may simply be consolidating before another move up. However, if the price breaks below $119,500, a deeper pullback toward $116,000–$117,000 could unfold, which served as a base during the last consolidation.
Technical Indicators and Price Chart
The Bitcoin price chart shows the technical indicators and the recent price movement. 
Bitcoin price chart | Source: crypto.news
On the upside, reclaiming $124,000 could reignite bullish momentum toward $126,000–$128,000. The current price action suggests that the market is still bullish, and the recent dip is a healthy correction. As the price continues to consolidate, investors and traders will be watching the $120,000 level closely, waiting for a potential breakout or a deeper pullback.
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