Bitcoin News Today: BlackRock's IBIT Fuels Bitcoin ETF Surge, Pushes BTC Past $123K Floor

Bitcoin rebounded above $123,000 in early October 2025, driven by robust inflows into U.S. spot Bitcoin ETFs and growing institutional adoption. The cryptocurrency marked a new all-time high of $126,296, with BlackRock's iShares Bitcoin Trust (IBIT) dominating inflows at $970 million on October 6, contributing to a total of $1.21 billion in net inflows-the second-largest daily figure since the ETFs' January 2024 launchtitle1^[1]. Cumulative inflows for the category surpassed $61.5 billion, pushing assets under management (AUM) toward $170 billiontitle1^[1].

The surge in ETF demand reflects a structural shift in Bitcoin's adoption. BlackRock's IBIT alone approached $100 billion in AUM, becoming the firm's most profitable ETF and outpacing its flagship S&P 500 producttitle1^[1]. Fidelity's FBTC and Bitwise's BITB followed with $112.3 million and $60.1 million in inflows, respectivelytitle1^[1]. Analysts attribute the momentum to Bitcoin's role as a hedge against inflation and its integration into traditional finance, with institutional investors increasingly allocating to the assettitle2^[2].

Despite Bitcoin's rally, gold outperformed the cryptocurrency in 2025, gaining nearly 47% year-to-date compared to Bitcoin's roughly 40% gain. Central banks' record gold purchases and expectations of Federal Reserve rate cuts bolstered gold's appeal as a safe-haven asset. Bitcoin's volatility and weaker correlation with interest rate changes limited its ability to match gold's performance during periods of macroeconomic uncertainty.

Market analysts noted that Bitcoin's 2025 rally was "structurally sound," supported by reduced leverage, cleaner positioning, and sustained real demandtitle1^[1]. However, short-term overheating risks emerged, with technical indicators suggesting a potential consolidation phase between $123,000–$126,000 before a potential push toward $130,000–$135,000title1^[1]. The ETF ecosystem also acted as a stabilizing force, absorbing downward pressure and creating a new price floortitle5^[4].

Looking ahead, the interplay between Bitcoin and gold remains a key focus. While Bitcoin's ETF-driven adoption continues to accelerate, gold's entrenched role in central bank reserves and its perceived stability during geopolitical tensions highlight diverging investor priorities. Analysts caution that Bitcoin's performance could face headwinds if the Federal Reserve adopts a more hawkish stance or if institutional concentration in a few ETFs disrupts inflow dynamicstitle2^[2].