Bitcoin ETF Inflows Surpass $1 Billion
The influx of liquidity into spot Bitcoin ETFs reached a milestone of over $1 billion this week, with analysts predicting a new all-time high for the leading cryptocurrency in the next quarter. Weekly inflows into these ETFs exceeded $1.11 billion for the first time since July, pushing the total net inflows across 12 offerings to $18.8 billion, as reported by SoSoValue data. Notably, the majority of inflows, totaling $494.27 million, were recorded on September 27, led by ARK 21Shares’ ARKB.
Analysts Anticipate Bullish Q4 for Bitcoin
The recent surge in Bitcoin’s price beyond the $65,000 resistance level has led analysts to predict a bullish fourth quarter for the cryptocurrency. Market analysts like Markus Thielen from 10x Research believe that Bitcoin’s breakout could trigger a wave of Fear of Missing Out (FOMO)-driven buying, potentially propelling the digital asset to new all-time highs sooner than expected. Factors contributing to this bullish momentum include stablecoin minting after the Federal Reserve’s July meeting and China’s fiscal stimulus measures affecting Bitcoin’s supply and demand dynamics.
Optimistic Outlook for Bitcoin’s Price Growth
The positive sentiment surrounding Bitcoin’s price trajectory has garnered optimism within the market, with analysts and researchers predicting further upside potential. Matt Mena from 21Shares highlighted the current environment of low inflation and accommodative central bank policies as favorable for Bitcoin’s continued rise. The surge in investor interest and global liquidity injections have created a conducive environment for Bitcoin to potentially retest the $68,000 to $70,000 price range. Additionally, historical data indicates a strong average Q4 return for Bitcoin in years following a positive September, further fueling expectations of price growth in the near future.
