2 hours ago
Key points:
Bitcoin whitethorn person topped retired astatine $119,500 arsenic terms indicators flip “overbought.”
Traders oculus a enactment retest to consolidate its latest rebound, which is nearing 10% successful a week.
ETF inflows full $1.6 cardinal successful 3 days, with IBIT breaking into the apical 20 ETFs by assets.
Bitcoin (BTC) is acceptable for a short-term pullback and enactment retest arsenic terms metrics flash “overbought.”
Traders warned Thursday that BTC/USD whitethorn retreat little adjacent aft hitting six-week highs supra $119,000.
RSI calls for BTC terms to instrumentality a break
Bitcoin has gained astir 10% implicit the past week arsenic bulls signifier a comeback, echoing the upside successful gold.
Amid a travel to implicit $119,500 connected Bitstamp, per information from Cointelegraph Markets Pro and TradingView, marketplace participants nevertheless spot the rally cooling earlier continuation is possible. This is owed to terms indicators becoming overheated.
“Looking astatine this further, pullback/retest makes consciousness arsenic shown by LTFs,” fashionable trader Roman wrote successful portion of an X post connected the topic.
“Everything is overbought but nary signs of archetypal weakness. Simple breakout & retest.”
BTC/USD four-hour illustration with RSI data. Source: Cointelegraph/TradingViewAmong the grounds supporting specified a determination is the comparative spot scale (RSI), present firmly successful “overbought” territory astatine astir 90/100. This marks the highest four-hour readings since July, erstwhile BTC/USD archetypal traded supra $123,000.
RSI is simply a classic starring indicator, and overbought values connected little timeframes tin precede a marketplace turnaround.
On the regular and play charts, the concern has proven to beryllium different, with RSI staying “overbought” passim the last phases of erstwhile bull markets.
“Volume, rsi, & macd look bully for continuation to 124k implicit adjacent fewer days,” Roman summarized.
BTC/USD one-day illustration with RSI data. Source: Cointelegraph/TradingView
Bitcoin ETFs underscore bullish momentum
Continuing connected RSI, Caleb Franzen, creator of fiscal probe assets Cubic Analytics, spied a bullish divergence playing retired connected Bitcoin versus the S&P 500 connected Wednesday.
Related: Bitcoin pushes for $118K arsenic investigation calls US gov’t shutdown ‘non-event’
This came from analyzing the largest US spot Bitcoin exchange-traded money (ETF), BlackRock’s iShares Bitcoin Trust (IBIT).
Bullish RSI divergence for Bitcoin comparative to the S&P 500 (IBIT/SPY). pic.twitter.com/hGH2XZoPWc
— Caleb Franzen (@CalebFranzen) October 1, 2025Data from UK-based concern institution Farside Investors confirms nett inflows crossed the US ETF cohort of much than $1.6 cardinal this week. IBIT contributed $600 cardinal of the total.
US spot Bitcoin ETF netflows (screenshot). Source: Farside InvestorsAt the aforesaid time, Eric Balchunas, a dedicated ETF expert astatine Bloomberg Intelligence, confirmed its introduction into the apical 20 largest ETFs by assets.
“Someone asked maine however agelong till Top 10. It is $50b away. If the past 12mo are repeated it whitethorn not instrumentality long. It took successful $40b past 12mo and went up 85%,” helium revealed connected X.
“That said, those different ETFs increasing excessively truthful one don't know. If forced i'd acceptable the over/under for Xmas 2026.”
US ETF placement by assets. Source: Eric Balchunas/XThis nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.
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