Key Points:
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Bitcoin could have been top of the list at $119,500 as it flips its price indicator “over-purchased.”
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Traders will see a retest of support to integrate the latest rebounds. This is approaching 10% in a week.
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ETF inflows totaled $1.6 billion over three days, with IBIT split into the top 20 ETFs per asset.
Bitcoin (BTC) is ready for a short-term pullback and retest of support as price metrics flush “over-acquisitions”;
Traders warned Thursday that BTC/USD could retreat lower after hitting a six-week high of over $119,000.
RSI wants to take a break from BTC prices
Set in a comeback with the Bulls, Bitcoin has won nearly 10% over the past week, reflecting the benefits of gold.
For each data on CointeLegraph Markets Pro and TradingView, market participants check rally cooling before continuing is possible, during trips over $119,500 on Bitstamp. This is because price indicators overheat.
“Looking further into this, as LTFS shows, pullback/retesting makes sense,” popular trader Roman wrote in part of an X post on the topic.
“Everything is being bought, but there are no signs of initial debilitating. A simple breakout and a retest.”
Among the evidence supporting this move is the relative strength index (RSI), which is currently in the territory of “over-acquisition” at close to 90/100. This marks the highest four-hour reading since July when BTC/USD was first traded above $123,000.
RSI is a classic key indicator, and over-acquired values in lower time frames could precede a market transformation.
The situation has proven different on daily and weekly charts, with RSI continuing to “over-acquire” at the final stages of the previous bull market.
“Volume, RSI and MACD are suitable for continuing to 124K over the next few days,” Roman summed.
Bitcoin ETF highlights bullish momentum
Continuing with RSI, Caleb Franzen, creator of Financial Research Resource Cubic Analysis, spied on Wednesday for a bullish divergence on the S&P 500 and the S&P 500.
Related: Bitcoin pushes 118K for $118K as analysis calls us to shut down “non-events”
This comes from an analysis of the largest Spot Bitcoin Exchange Trading Fund (ETF), BlackRock’s Ishares Bitcoin Trust (IBIT) and BlackRock’s Ishares Bitcoin Trust (IBIT).
Bitcoin’s bullish RSI divergence against the S&P 500 (IBit/Spy). pic.twitter.com/hgh2xzopwc
– Calebfranzen (@calebfranzen) October 1, 2025
Data from UK-based investment firm Farside Investors confirms net inflows across the US ETF cohort of more than $1.6 billion this week. IBIT has donated a total of $600 million.
At the same time, Eric Baltunas, a dedicated ETF analyst at Bloomberg Intelligence, confirmed his entry into the top 20 ETFs per asset.
“How long did someone ask to the top 10? That’s $500 billion. If the last 12 months were repeated, it might not take long.
“That being said, I don’t know because other ETFs are growing too.
This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.