ETF earns 2.7 billion dollars a month plus gold forks, and BTC points to 100,000

According to Woofun AI, Bitcoin (BTC) is accelerating its impact towards the $100,000 mark due to the large influx of cash ETF funds and multiple technical advantages.

Strong financial support is the most prominent feature of the current market. On Monday, the price of BTC once surged to $87,270, a multi-month high, but was affected by rising US bond yields and then fell below $84,000, although this pullback was seen as a brief phenomenon. As of Friday, the total assets managed by various spot Bitcoin ETFs (IBIT.US) had exceeded $134 million, of which BlackRock (BLK.US) IBIT contributed $97 million, Fidelity's FBTC (FBTC.US) contributed $49 million, and investors redeemed $11.8 million worth of shares from Bitwise (BITB.US) Other ETFs had no inflows. This week, the total inflow to spot Bitcoin ETFs was $2.4 billion, bringing this month's cumulative inflow to $2.7 billion. This is the third month in a row that this type of ETF has achieved positive growth, reversing overall performance since this year and offsetting capital outflows of $4.5 billion in June and $2.43 billion in May.

Despite rising US bond yields, US investors are expecting BTC to rise. Institutional holdings are increasing simultaneously. Strategy (MSTR) under Michael Saylor bought 95 BTC last week, with a total holdings of 846,000; Strive (ASSR) related to Vivek Ramaswamy now holds 26,355.

According to data compiled by Woofun AI, futures market indicators further confirm strong demand. The number of open positions continued to rise this month, with the daily value of open positions exceeding US$60 billion, indicating that investors have a high risk appetite.

Meanwhile, the 'Fear and Greed Index' has always been in the greed range. From a technical analysis perspective, it is highly likely that BTC will rise to $10 million in the short term. On September 11, the 50-day moving average crossed the 200-day moving average upward, forming a golden fork pattern.

In addition, the chart also shows a bullish flag pattern composed of vertical lines and descending channels. Currently, BTC has broken through the key resistance level of $82,745, which is also the highest price in May and September 4. As it approaches $82,745, BTC is likely to form a 'test after breakout' trend. Therefore, the most likely prediction is that BTC will rebound and touch $100,000, which is about 20% higher than the current price.

Tom Lee thinks the price of Bitcoin could even rise even higher, and he expects BTC to rise to $15 million.