03.10.202510:53 Forex Analysis & Reviews: Bitcoin's growth continues, supported by strong inflows into spot BTC and ETH ETFs

Bitcoin's growth continues and is accompanied by active inflows into spot BTC and ETH ETFs. According to the latest report, recent inflows into BTC ETFs are now significantly stronger than inflows into ETH ETFs, which points to a renewed demand for the world's first cryptocurrency. The daily inflow into these two ETFs amounted to $80.79.

The renewed interest in Bitcoin is not accidental. Institutional investors are returning to a tried-and-true value—the "digital gold" that Bitcoin is known as. The recent large correction in Bitcoin down to around $108,000, followed by a new wave of growth, once again demonstrates that investors remain committed to the first cryptocurrency, rather than to ETH, which continues to face an ever-changing landscape and unresolved scalability issues.

In a recent interview, Arthur Hayes stated that by 2028, the price of BTC could reach $3,200,000. The influencer noted that his model was not a forecast but mathematics. Hayes's statement is undoubtedly bold, but it is backed by his vision of a changing financial landscape and the growing role of cryptocurrencies within it.

He believes that traditional financial institutions are losing their appeal, while digital assets such as Bitcoin are becoming more in demand as a means of saving and making payments. Hayes points to several factors that, in his view, will drive the growth in BTC's value.

First, there is the ongoing devaluation of fiat currencies due to unprecedented money printing by central banks around the world.

Second, there is growing institutional interest in Bitcoin, which is now being recognized by major companies and investment funds as a legitimate asset class.

Third, Bitcoin's limited supply makes it a hedge against inflation in times of global economic instability.

Of course, Hayes's forecast has its skeptics. Many experts believe that reaching such a high price for BTC is unlikely, given the volatility of the cryptocurrency market and the unpredictability of the global economy. But considering the trends seen this year—which is not yet over—it does not hurt to dream at least about the $500,000 mark.

Trading recommendations:

As for the technical picture of Bitcoin, buyers are now aiming to reclaim the $120,900 level, which opens a direct path to $123,000, and from there, it is a short step to $125,900. The most distant target is the maximum area near $126,400. Breaking above this would mean a further strengthening of the bull market. In the case of a decline in Bitcoin, buyers are expected at the $119,000 level. If the price moves below this zone, BTC could quickly fall to the $117,100 area. The most distant target will be the $115,100 area.

For Ethereum, clear consolidation above the $4,533 level opens a direct path to $4,616. The most distant target is the maximum around $4,697. Overcoming this would indicate further strengthening of the bull market and growing buyer interest. In the case of a decline in Ethereum, buyers are expected at $4,432. If the price moves below this area, ETH could quickly fall to the $4,331 area. The most distant target will be the $4,235 area.

What is on the chart:

- Support and resistance levels shown in red, where either a slowdown or active price growth is expected at the moment;

- The 50-day moving average is marked in green;

- The 100-day moving average is marked in blue;

- The 200-day moving average is marked in light green.

A crossover or price test of these moving averages generally either stops or triggers a new impulse for the market.