The listed areas listed in the US Bitcoin Exchange-Traded Funds (ETF) began in October’s historic Bullish month with their second best week of flowing from launch, which signed the revised investor optimism.
Spot bitcoin (Btc) ETFs recorded the $ 3.24 billion worth of combined -with net Positive flowing In the past week, nearly compatible with their record of $ 3.38 billion on the week ending on November 22, 2024, According to in data from sosovalue.
The figure marks a sharp rebound from $ 902 million of last week to streams. The analysts associate with the growth of the growing expectations of another cutting of the US interest rate, which improved the emotion to the risk of risk.
The growing expectations of another US interest rate triggered a “transfer of emotion,” which attracts the revised investor demand for Bitcoin ETFs, “bringing a four-week flow to nearly $ 4 billion,” Iliya Kalchev, analyst of the digital asset platform Nexo, told the cointelegraph. “At current run rates, Q4 flows can retire more than 100,000 BTC from circulation-more than double new release.”
“ETF absorption accelerates as the long -term distribution of the holder enhances, helping the BTC build a stronger base,” close to key technical support levels, he added.
Related: The next Crypto play of Wall Street can be ready crypto companies, not Altcoins
The ongoing ETF flow can provide significant tailwinds for Bitcoin in October, which is the second best month for Bitcoin in terms of average return to history, often referred to as “uptober” by crypto investors.
This $ 3.2 billion week pushed Bitcoin’s price over $ 123,996 on Friday, marked more than six weeks highly seen on August 14th for the world’s first cryptocurrency, Tradingview Data displays.
Bitcoin’s breakout above $ 120,000 can invite a “very fast moving” above the $ 150,000 all-time high Before the end of 2025, Capriole Investments founder Charles Edwards, at Cointelegraph during an interview with token2049 in Singapore.
Related: Bitcoin rallies with Defi as Zcash Tops Weekly Performance: Financial re -defined
UPTOBER raised analysting analysts of new high bitcoins
The Bitcoin ETF is now serving as the “clearest barometer sentiment” for the cryptocurrency industry, indicating a potential breakout for October, Kalchev said.
“UPTOBER shows clear signs of an early-Q4 breakout in the crypto market, which is strengthened by ETF flows, seasonal strengths, and macro conditions.”
However, Bitcoin’s momentum depends on some major events next week, along with the upcoming US Federal Reserve speech Jerome Powell, as well as the release of minutes from the Federal Open Market Committee (FOMC) meeting.
Investors also expect delayed US jobs reports, but its publication date depends on the length of the current USSHUTDOWN OF US GOVERNMENTThe first is like the example since 2018.
Meanwhile, investors expect a strong month for Bitcoin’s momentum, as October is the second best month in terms of performance in Bitcoin history.
The BTC amended a monthly return of nearly 20% in October, 46% in November and around 4% in December, according to coinglass Data.
https://www.youtube.com/watch?v=-cpjxnan8S4
Magazine: Hayes tip ‘up only’ for crypto, eth staking exit queue Concerns: Hodler’s Digest, September 14 – 20
