Bitcoin Price Gets Boost from $102M ETF Inflow on October 1

Bitcoin's price action remained in a bullish trend on October 1 as $102.7 million flowed into Bitcoin ETFs, driven by IBIT's net inflow of $195.6 million.

GBTC, however, recorded outflows worth $31.4 million, while FBTC saw redemptions totaling $60.7 million.

The 4-hour chart showed BTC trading at $85,600.24, testing the upper Bollinger resistance at $84,434.66. The Relative Strength Index (RSI) was at 65.92, leaving room for further price appreciation before reaching overbought conditions.

The Moving Average Convergence Divergence (MACD) golden cross supported the continuation of the bullish trend, but a healthy retracement towards the EMA50 support at $83,813.51 appears probable first.