🚀 Bitcoin's Rollercoaster: ETFs and Price Action 🎢
- Bitcoin (BTC) is playing hard to get with the $70,000 mark, despite a record-breaking week for spot Bitcoin ETFs.
- On Oct. 17, US-based spot BTC ETFs hit $20 billion in net flows, a feat gold ETFs took five years to achieve!
- BTC peaked at $69,487 on Oct. 21 but slid back to $68,570, per Cointelegraph.
- Analysts say ETF inflows take time to boost BTC prices, and traders are using them as exit liquidity.
- BlackRock’s iShares Bitcoin Trust ETF led the charge with $1.17 billion in inflows.
- BTC closed the week above $69,000, hinting at a possible rally to $71,000.
Hold tight, crypto enthusiasts! 🚀