$1.5 Billion ETF Inflows Could Push Bitcoin Price 4% to New ATH

BTCUSDT is currently trading at $118,325, facing resistance at the $120,000 level. This resistance is crucial for Bitcoin if it wants to break back to its ATH of $123,218. The 4.4% gap to reach the ATH indicates potential for growth, but Bitcoin needs to secure support above $120,000 for this to happen.

This week, spot BTCUSDT exchange-traded funds (ETFs) saw over $1.5 billion in inflows, a significant portion of which occurred in the last 48 hours during Bitcoin’s dip.

The influx of institutional money highlights that investors are confident in Bitcoin’s potential despite the market cooling. If this trend persists, it could propel BTCUSDT price upward, as institutional support provides stability.

If BTCUSDT can hold above $120,000 and push past $122,000, it could continue its ascent toward new all-time highs. The current market conditions and ETF inflows support a bullish outlook, with a significant chance of breaking the resistance.

However, the risk of profit-taking remains, which could lead to a price drop. If BTCUSDT faces selling pressure, it could fall back to $115,000, erasing a portion of recent gains. This would invalidate the bullish thesis, causing Bitcoin to retest lower support levels.