BlackRock has made a significant investment in Bitcoin, purchasing $899.4 million worth of the cryptocurrency as it nears the $120,000 support level. This acquisition comes as $4.16 billion in dormant Bitcoin was moved from long-inactive wallets, highlighting increased market activity. The Bitcoin price hovered around $122,700 on October 8, with analysts closely monitoring the $117,000–$120,000 range as a potential rebound zone. The market is experiencing mixed signals due to whale activity and derivatives data, adding to the uncertainty surrounding Bitcoin's next move.