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Bitcoin ETF Inflows Reach 4-Month High Following Comments from BlackRock CEO

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2 hours ago

Recent data reveals that US spot Bitcoin ETF inflows have reached a four-month high, boosted by comments from BlackRock CEO Larry Fink.

Larry Fink's Comments on Bitcoin

During BlackRock's Q3 2024 earnings call, Larry Fink stated that Bitcoin is 'an asset class in itself,' comparing it to gold. These remarks came alongside record inflows into the IBIT fund, which has led in cumulative inflows since the beginning of the year.

Improvement in Investor Sentiment

In the past 24 hours, Bitcoin's price increased by over 2%, reaching $65,722.25. Polymarket investors are optimistic of a new all-time high for BTC by 2024, with a 64% probability in their contracts, an increase of 9% from last week.

Crypto Fear & Greed Index Now : 65 (Greed)

Market Situation

More than $542K has been wagered on Polymarket contracts anticipating a new Bitcoin all-time high. The Crypto Fear and Greed Index also rose by 17 points, reflecting growing optimism in the market.

The growth in Bitcoin ETF investments and market optimism indicate a renewed interest in cryptocurrencies, driven by market influences like Larry Fink's remarks.

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