Latest Prices
- Bitcoin (BTC): $72,289.97 +0.11%
- Ether (ETH): $2,631.15 -1.26%
- S&P 500: 5,813.67 -0.33%
- Gold: $2,778.66 -0.35%
- Nikkei 225: 39,081.25 -0.5%
As October comes to a close, Bitcoin is trading around $72,500, showing modest gains of roughly 0.3% over the last day. The overall digital asset market is dipped nearly 0.9%. Bitcoin has risen more than 6% this past week, prompting some analysts to speculate that recent price stagnation could indicate profit-taking. Despite this, there has been notable liquidity with $893 million of spot bitcoin ETF inflows recorded on Wednesday alone. Much of this surge comes from BlackRock's IBIT, accounting for nearly $872 million.
"Strong BTC net inflows indicate robust institutional demand as BTC dominance continues to rise (59.8%)" – Augustine Fan
The outcome of the upcoming presidential election in the U.S. is not expected to impact Bitcoin’s mainstream adoption significantly, according to Darius Sit of QCP Capital. The ongoing integration of cryptocurrency into American finance, including the involvement of major financial firms like BlackRock, is deemed far more critical.
Chart of the Day: The moving averages of active Bitcoin addresses indicate a potential upward price trend as October draws to a close.
