Bitcoin ETF inflows surged to $900M, driving the price higher and signaling increased institutional interest in the crypto market.
October 29 marked the highest inflows, boosting Bitcoin’s market cap to $1.42 trillion, with the Fear and Greed Index hitting 77.
Long-term holders show confidence, as 71% hold BTC for over a year, while netflows decreased by $175.71M, indicating reduced selling pressure.
Bitcoin saw a notable surge this week as inflows into Bitcoin ETFs soared to $900 million. Cryptocurrency analyst Michaël van de Poppe reported on this massive inflow, suggesting it could push Bitcoin toward a new all-time high (ATH). Despite price fluctuations, the data shows optimism among investors, with consistent interest driving the price momentum upward.
The inflow in the #Bitcoin ETF are going through the roof.
Insane!
$900 million inflow pushing Bitcoin towards a new ATH.
I think there's more upside coming in the coming period with a constant flow of interest.
Nice. pic.twitter.com/tqqWyICSJj
— Michaël van de Poppe (@CryptoMichNL) October 30, 2024
Bitcoin ETFs Fuel Buying Pressure
The inflow into Bitcoin ETFs has fueled substantial buying pr…
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