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1h ago

Bitcoin Sets New Record Above $126,000 as Spot ETF Inflows Accelerate

Heavy spot-fund inflows tightened supply, pushing prices to records.

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A representation of the virtual cryptocurrency Bitcoin is seen in this picture illustration taken October 19, 2021. REUTERS/Edgar Su
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Overview

  • U.S. spot Bitcoin ETFs drew roughly $1.19 billion on Oct. 6, the second-biggest daily intake since launch, with BlackRock’s IBIT taking in about $970 million and approaching $100 billion in assets.
  • Global crypto ETFs pulled a record $5.95 billion in the week ended Oct. 4, according to CoinShares, as bitcoin climbed to fresh highs near $126,200.
  • On-chain and fund flow data indicate coins are moving off exchanges and into long-term holdings, with regulated products removing supply from circulation and tightening spot markets.
  • A U.S. government shutdown, a softer dollar, and growing expectations for easier Federal Reserve policy reinforced demand for hedge-like assets alongside the ETF-driven bid.
  • Market risk gauges are flashing caution with record derivatives open interest, higher leverage, and elevated greed readings, while MicroStrategy paused its weekly purchases this week.