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
US September New York Fed 1-year inflation expectations rise to 3.38%
Crunch Lab completes $5 million strategic financing, co-led by Galaxy Ventures and Road Capital
The S&P 500 Index rises 0.2% intraday, reaching a record high.
Trending news
MoreCrypto prices
More








