On the final trading day of September, U.S.-based spot Bitcoin ETFs saw a sharp resurgence in demand, attracting over $430 million in net inflows in a single session. Across just two trading days, inflows surpassed $950 million, reversing the outflow trend of the previous week. This institutional momentum stabilized Bitcoin’s spot price and pushed it above the $116,000 mark, after dipping to $108,000 only a week earlier.
The timing coincided with the U.S. government shutdown triggered on October 1, as budget negotiations stalled in Washington. The event heightened risk aversion, positioning Bitcoin alongside goldnas a safe-haven asset. Precious metals hit fresh highs while the U.S. dollar weakened, with analysts noting Bitcoin’s lagging but strengthening correlation with gold.
Market strategists highlighted that institutional accumulation is easing short-term downside pressure. Crypto analyst Cas Abbe pointed to the potential for new highs in October, while Captain Faibik noted the possibility of breaking a descending parallel channel observed since August. If confirmed with higher trading volumes, Bitcoin could be set for a strong fourth quarter rally despite continued volatility risks.