Bitcoin, the world’s largest cryptocurrency, has experienced a mild bullish run recently. With price performance still holding above $67,500, it continues to attract global investors.
Record Inflows Signal Strong Investor Interest
In the past week, Bitcoin ETPs recorded an inflow of $1.74 billion, totaling 25,675 BTC, marking the largest seven-day tally in approximately three months. The cumulative amount of BTC in Bitcoin ETPs is now 1.1 million, equivalent to the Satoshi wallet.
Major Bitcoin ETP Push Factors
Financial experts have attributed the recent bullish signals to several factors, including speculation by pro-crypto Donald Trump supporters and anticipation of a U.S. interest rate cut. In September, the U.S. Federal Reserve cut interest rates by 50 basis points, triggering gains for Bitcoin.
Bitcoin ETFs Surpass Previous Milestones
Data shows that since October 14, the ETF market has recorded a notable upsurge. Since then, $1.9 billion has been pooled from investors, equivalent to 21,450 BTC. The total inflows into Bitcoin ETFs since their launch in January have exceeded $20 billion. Bloomberg analyst Eric Balchunas noted that gold ETFs took five years to reach the same figure.
Interest in Bitcoin continues to grow amid significant inflows into ETPs and ETFs. These achievements highlight the sustained interest in digital assets and the cryptocurrency's popularity among investors.