Bitcoin Equities, ETF Inflows Surge As Price Moves Above $67,000
Posted On October 21, 2024
Bitcoin (CRYPTO: BTC) could be knocking on the door of $70,000 soon, propelled by positive market sentiment and robust support from ETF inflows and crypto miners, according to Bernstein analysts.
What Happened: Last week alone, Bitcoin ETFs saw $2 billion in new purchases, bringing the total yearly inflows to $20.5 billion and pushing assets under management past the $63 billion mark. This surge in ETF investments is contributing significantly to Bitcoin’s spot market demand.
The spike in ETF inflows is tied to growing optimism around a potential Republican victory in the upcoming U.S. presidential election, with Republicans seen as more …
About The Author
