Legal Notice: Nothing on the website constitutes professional and/or financial advice. All the content on the website is for informational purposes only. We have prepared all information herein from sources we believe to be accurate and reliable. However, such information is presented as is,” without warranty of any kind – whether expressed or implied. You acknowledge and agree that there are numerous risks associated with purchasing cryptocurrencies.

CDS Crypto News Bitcoin ETFs Experience Record Inflows Amid Rally Hopes

Crypto News

Bitcoin ETFs Experience Record Inflows Amid Rally Hopes

sevval15/10/20241 Mins read262

Bitcoin Etfs Experience Record Inflows Amid Rally Hopes

Bitcoin ETFs See $555.86 Million Inflows Amid Rally Hopes

Bitcoin ETFs– On Monday, Bitcoin (BTC) exchange-traded funds (ETFs) saw inflows of $555.86 million, according to data from SoSoValue. This marks a multi-month record for ETF inflows, with the last significant surge occurring on June 4, when inflows reached $886.75 million.

Table of Contents

Recent Price Movements

Bitcoin’s price has increased by 2.2% in the last 24 hours, as reported by CoinDesk Indices. This rise aligns with the performance of the CoinDesk 20 index, which tracks the largest digital assets. Notably, a technical indicator known as the three-line break chart suggests that Bitcoin may soon break past the $73,000 mark, indicating a potential return to an upward trend after several months of fluctuating prices.

Optimism in Prediction Markets

Market sentiment regarding Bitcoin’s price potential has shifted positively over the past week. On Polymarket, the probability of BTC reaching a new all-time high in 2024 is currently trading at 64%, an increase of 9 percentage points from the previous week. Additionally, bettors on Kalshi are assigning a 46% chance that Bitcoin’s price will hit $75,000 this year, up 7 percentage points. Bitcoin previously reached an all-time high of over $71,000 in March of this year, fueling further optimism among investors.

FAQs

What were the recent inflows for Bitcoin ETFs?

On Monday, Bitcoin exchange-traded funds (ETFs) experienced inflows of $555.86 million, marking a multi-month record. The last time inflows were higher was on June 4, when they reached $886.75 million.

How has Bitcoin’s price changed recently?

Bitcoin’s price has increased by 2.2% in the last 24 hours, according to CoinDesk Indices. This rise indicates a possible upward trend, as technical indicators suggest that Bitcoin could break past the $73,000 mark.

Previous post Metaplanet Stock Surge After Bitcoin Purchase

Next post FalconX Launches Innovative Auto-Liquidation Service for Crypto Miners

Written by

sevval

Şevval has been actively writing since 2022 and is a third-year mathematics student at Ankara University. Her interest in writing is shaped particularly around innovative technologies such as Web3, artificial intelligence, and blockchain. She closely follows developments in these fields and aims to convey complex topics to readers in a clear and engaging manner. She enjoys combining her mathematical knowledge with technology to create content and strives to raise awareness about the digital world of the future.