Overview

• Bitcoin is fluctuating around $116,000–$117,000 after stalling below $118,000, with technicians flagging $120,000 as the next major resistance.
• Roughly 30,000 BTC in options (about $3.5 billion) expire on Deribit today, with max pain near $114,000 and a recently lower put‑call ratio signaling shifting positioning.
• US spot Bitcoin ETFs have drawn about $2.8 billion in net inflows since September 9, including a reported $163 million daily intake on September 18.
• Fidelity Investments was reported to have purchased 836.75 BTC worth roughly $97.7 million, reinforcing the narrative of ongoing institutional accumulation.
• Analysts see a break above $120,000 opening a path toward $125,000–$130,000, while failure to hold $115,000 could risk a drop toward $110,000–$105,000; prediction markets put sub‑20% odds on topping $125,000 this month.