Overview

• Bitcoin is range-bound around $120,000–$123,000 after briefly slipping to $119,713, with resistance clustered near $125,000–$126,000.
• U.S. spot Bitcoin ETFs notched another day of net inflows on Oct. 9 at about $197 million, pushing October’s total above $5 billion.
• On-chain data show long‑term holders sold roughly 295,000 BTC over the past 30 days as derivatives markets logged more than $600 million in liquidations.
• Volatility drivers include about $4.7 billion in BTC options expiring today and elevated open interest, with a move above roughly $121,600 seen as a potential short‑squeeze trigger.
• Macro cross-currents feature a firmer dollar, ongoing U.S. government shutdown risk and gold above $4,000, leaving analysts split between a retest of $117,000–$120,000 support or an advance toward $128,000–$130,000.