Bitcoin Climbs Above $113K as ETFs and On-Chain Signals Fuel Bullish Outlook
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Bitcoin gained 2.10% in the past 24 hours, extending its price to roughly $113,928, according to CoinMarketCap data.
The move outpaced the cryptocurrency’s seven-day (+1.05%) and 30-day (+5%) trends, driven by stronger network activity, surging ETF inflows, and key technical levels holding firm.
One of the most notable signals comes from the blockchain itself. In early September, the network processed over 600,000 daily transactions, a threshold analysts at CryptoQuant associate with “price explosions.” This milestone has coincided with multiple 2025 rallies, reinforcing the view that heavy usage often precedes fresh upside.
Institutional flows are also shaping momentum. BlackRock’s iShares Bitcoin Trust (IBIT) has overtaken Deribit in options open interest, reaching $38 billion compared to Deribit’s $32 billion. Spot Bitcoin ETFs brought in $518 million on September 29, led by Fidelity’s FBTC with nearly $299 million in inflows. Such activity highlights the growing role of regulated investment vehicles in stabilizing liquidity and deepening market confidence.
From a technical perspective, Bitcoin has reclaimed its 50% Fibonacci retracement ($112,591) and key pivot support at $113,488. While the RSI (53.56) suggests neutral momentum, the MACD histogram (-256) reflects short-term bearish divergence, hinting that consolidation could follow unless bulls firmly secure ground above $114K.
Overall, the combination of strong fundamentals and institutional demand suggests the market may be setting the stage for a renewed push higher, even as traders remain alert for consolidation in the near term.
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