Bitcoin spot ETFs received $149 million in inflows on October 27, marking 3 days of positive institutional demand amid a price drop. Ethereum ETFs also saw $134 million in inflows with no outflows across 9 funds. The broader market remains cautious with a neutral Fear and Greed Index at 42.

Bitcoin has been in a defined range for 120 days, described as a phase of “smart accumulation” based on on-chain data from CryptoQuant. The Spot-to-Perpetual Volume Ratio on Binance remains elevated, indicating real buyers are holding positions.

Cryptoquant analysts suggest that a rise in the volume ratio alongside a price breakout would confirm a new bullish leg driven by strong spot demand. Glassnode’s report shows Bitcoin’s price stabilizing with easing sell pressure and renewed buying activity.

Derivatives data shows reduced leverage and balanced market conditions, with open interest declining and positive funding rates. Options activity remains strong, but overall spot volumes have decreased, indicating consolidation according to Glassnode.

Bitcoin is trading near $114,143, bouncing from the lower Bollinger Band and strong support between $104,500 and $109,500. Resistance lies around $118,600. The RSI at 53.2 shows a neutral stance, while the CMF at -0.05 indicates balanced inflows and outflows.

A break above $118,600 could lead Bitcoin to $125,000, while a drop below $109,000 could trigger a retest of $104,500, a key demand zone for BTC. Bitcoin’s structure within the ascending pattern is crucial for potential price movements.

Read more at Yahoo Finance: Bitcoin ETFs Score $149M Inflows during Price Drop: Accumulation Unfazed