Inflows exceed the $1 billion mark
Liquidity in spot Bitcoin ETFs continues to improve, with its first over $1 billion weekly inflows since July. As per data from SoSoValue, this week net inflows hit a record $1.11 billion, taking the total cumulative inflows across 12 offerings to $18.8 billion.
Top Players in ETF Market
Among these, ARK 21Shares’ ARKB led the inflows with $203.07 million, followed by Fidelity’s FBTC with $123.61 million. BlackRock’s IBIT continued its five-day inflow streak, raking in $110.82 million. Grayscale’s GBTC, Bitwise’s BITB, and VanEck’s HODL also saw positive inflows. Only four offerings did not see flows, indicative of strong market interest in Bitcoin ETFs.
Analysts Predict a Bullish Q4
This spike in inflows coincides with BTC breakthrough above the $65,000 resistance line, which, according to some analysts, could result in a FOMO-driven rally. Markus Thielen of 10x Research believes that the price action will force Bitcoin upwards, toward $70,000, on the back of increasing stablecoin minting and massive capital outflows from China monetary stimulus.
Favorable Market Conditions The lower-than-expected inflation data favor bullish bias even more, with the Federal Reserve rate cuts of late. Matt Mena of 21Shares was keen to point out that along with global liquidity injections, these acts create an ideal ecosystem for BTC continued rise. He said Bitcoin could soon test $68,000 to $70,000.
Investor Sentiment on the Rise
The Bitcoin Fear and Greed Index surges to 64, showing bold market optimism. With Bitcoin trading at $65,757 and only 10.8% off of its ATH, it sets up one of the potentially most historic Q4s. Conclusion Analysts are optimistic for a strong Q4 rally with record inflows into BTC ETFs and favourable market backdrop. The market should be closely watched as investors plunge into FOMO-driven buying that may take Bitcoin to higher highs.
