After Bitcoin hit a record high and pulled back due to profit-taking, capital inflows reached $3.2 billion
According to ChainCatcher, citing Golden Ten Data, after bitcoin reached a new all-time high in the previous trading day, it pulled back as traders took profits. In the week ending October 3, the inflow into spot bitcoin exchange-traded funds reached $3.2 billions. James Madden, Trading Director at Deus X Pay, stated that bitcoin's rally was driven by institutional demand, favorable macroeconomic factors, and seasonal momentum, with the market also expecting the US Federal Reserve to further cut interest rates.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Tesla shares rise 2.9%, market value exceeds $1.6 trillion
Fed's Bostic: 2026 dot plot projection does not include rate cuts
Fed's Bostic: Next year's dot plot does not include any rate cuts, policy still needs to remain restrictive
Federal Reserve's Bostic: No rate cuts included in 2026 forecast, economic growth around 2.5%
Trending news
MoreCrypto prices
More
