Ethereum

Bitcoin

Digital asset investment products witnessed significant inflows amounting to $407 million, primarily influenced by the upcoming U.S. elections rather than economic data. 
<a href="https://crypto.ro/en/cryptocurrencies/bitcoin">Bitcoin</a> led the surge, receiving $419 million in inflows, driven by a political shift toward Republicans, who are perceived as more favorable to the digital asset space, according to <a href="https://blog.coinshares.com/volume-204-digital-asset-fund-flows-weekly-report-b41f0790a1f3" rel="nofollow noopener" target="_blank">CoinShares</a>. 
<img decoding="async" class="alignnone" src="https://miro.medium.com/v2/resize:fit:700/1*y3EiZL5Bd6KfOMCxMeE21w.png" alt="" title="Bitcoin Hits $65K Amid Political Shift, $407M Digital Asset Inflows 36"> 
Despite stronger-than-expected economic data, which usually influences market moves, political events such as the U.S. vice-presidential debate had a more pronounced effect, with polling shifts boosting both inflows and Bitcoin prices. The U.S. accounted for $406 million of the inflows, with Canada adding $4.8 million. 
Short-Bitcoin products, on the other hand, saw outflows of $6.3 million, while multi-asset products recorded their 17th week of inflows, albeit small at $1.5 million. Ethereum continued its trend of outflows, losing $9.8 million last week. 
Blockchain equity ETFs also saw significant interest, marking one of their largest inflows of the year at $34 million, likely in response to Bitcoin’s price rally. 
<h2 id="ceffu-capitalizes-on-bitcoin-price-surge">Ceffu Capitalizes on Bitcoin Price Surge</h2> 
Ceffu, a prominent crypto trading firm, has been actively trading Bitcoin amidst the recent market movements. 
Between October 10 and 11, Ceffu accumulated 1,988 BTC, worth $120.88 million, at an average price of $60,815. Shortly after, the firm deposited 1,133 BTC to Binance at $64,047, making a profit of approximately $3.66 million, according to <a href="https://x.com/lookonchain/status/1845772184398299236" rel="nofollow" target="_blank">lookonchain</a>. 
<img decoding="async" src="https://pbs.twimg.com/media/GZ1_grfa0AAefuI?format=jpg&amp;name=4096x4096" alt="Image" title="Bitcoin Hits $65K Amid Political Shift, $407M Digital Asset Inflows 37"> 
Ceffu’s strategic trading activities highlight its agility in capitalizing on Bitcoin’s recent price surge, driven by political factors and increased market inflows. The firm’s ability to profit from short-term price fluctuations underscores its expertise in navigating volatile crypto markets.

Bitcoin Hits $65K Amid Political Shift, $407M Digital Asset Inflows

Table of Contents

crypto.ro global

Other articles published on Oct 14, 2024

Tether Aims to Lend Billions from Reserves

Bybit Announces Growth Milestone for Liquid Staking Token bbSOL, Surpassing $100 Million in Locke...

Chad Musk (MUSKCHAD) Solana Memecoin Will Explode 19,000% Before Exchange Listing, While Shiba In...

World Liberty Financial surpasses 100K whitelist signups

Bitcoin Gains 220% Over Two Years with S&P 500 Rising 60% Only

Keyrock Taps Deutsche Bank to Strengthen Crypto Footprint

Join our free newsletter for daily crypto updates!