{"content":"BTC Heads Toward $120,000 — Renewed ETF Inflows and Long-Term Accumulation Drive Momentum Bitcoin price continues gains on Monday after soaring over 5% the week before, showing positive momentum. Last week, US-listed spot Bitcoin ETFs received $446.36 million. Long-term structural demand is strong despite short-term momentum weakening on-chain. Bitcoin (BTC) is over $115,000 on Monday after gaining over 5% the week before. Last week, spot Bitcoin ETFs received approximately $446 million from institutions, indicating strong demand. Long-term holders remain strong, supporting BTC's next move upward, according to on-chain statistics. Bitcoin traded over $115,000 at the start of the week, extending its gains from previous week. The restoration of institutional demand boosts prices. SoSoValue data shows spot Bitcoin ETFs saw $446.36 million inflows last week, reversing the $1.23 billion outflow. This cycle's demand structure is anchored by the Dolphin cohort—ETFs, businesses, and major holders—according to the research. Dolphin has been the biggest accumulator this year, adding nearly 681,000 BTC, while all other address groupings have lost money. This discrepancy indicates that major investors and institutional organizations have been absorbing supply from smaller market players, creating a strong demand base recently. After a Bitcoin bull cycle, Dolphin holdings have grown less, as seen in the graph below. At the 2021 high, the cohort's annual growth dipped below its 365-day moving average, signifying a demand turning point and price correction. Bitcoin price found support around $106,453 on Wednesday at the 61.8% Fibonacci retracement line from April's low of $74,508 to the record high of $126,199. Over the following four days, BTC climbed 6.57% and ended above the 50-day EMA at $113,402. BTC is over $115,000 on Monday, hitting $115,137 resistance. BTC may surge above psychologically critical $120,000 if it closes above the 78.6% Fibonacci retracement around $115,137. #WriteToEarnUpgrade #BitcoinETFNetInflows #MarketRebound $BTC ","images":["https://d35imkjvkj28kt.cloudfront.net/uploadfile/article/blog/2025102025/10/27/cf897ea831c74f3d8ddb5870175ebdb6.png"],"tags":[],"tradingPairs":["BTC/USDT"],"quotearticleid":0}