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Key Factors Behind Bitcoin's Price Surge in October

by

2 hours ago

Over the last 30 days, Bitcoin has surged nearly 10%. This article examines the key events that have contributed to this growth.

Bitcoin's Recent Price Surge

At the start of October, Bitcoin was priced at $60,818.09. By October 18, the market showed significant growth, reaching $68,400. This increase is partially linked to the positive inflows in the ETF market since October 11.

Spot Bitcoin ETFs' Role in the Surge

Since October 11, the Bitcoin spot ETF market has reported no negative inflows. The highest inflow was recorded on October 14 at $555.90M. It is suggested that these positive inflows may have contributed to the rise in Bitcoin's price.

Analysis of Bitcoin's Active Addresses

The recent increase in Bitcoin addresses indicates growing interest in trading. The potential 'golden cross' observed in charts suggests a shift towards positive market momentum.

Bitcoin is showing robust growth supported by factors such as positive ETF inflows and address activity.

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