Republican

Donald Trump

Bitcoin

Billion

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin ETFs recorded almost $2.22 billion inflows in the past 7 days.</li> 
 <li>BTC price is trading above $67,000, rebounding following an earlier price drop below the level.</li> 
</ul> 
<p>The US Bitcoin ETFs recorded their seventh day of inflows on October 21 at more than $294 million.</p> 
<p>Since October 11, the crypto products saw inflows totaling almost $2.22 billion, with the most significant influx day being on October 14, at nearly $556 million, according to data from SoSoValue.</p> 
<figure id="attachment_52126" aria-describedby="caption-attachment-52126" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/10/22oct.png"><img loading="lazy" decoding="async" class="wp-image-52126 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/10/22oct.png" alt="SoSoValue data" width="608" height="622" title="Bitcoin ETFs Continue Inflow Streak For 7th Consecutive Day at $294M 26" srcset="https://crypto.ro/en/wp-content/uploads/2024/10/22oct.png 608w, https://crypto.ro/en/wp-content/uploads/2024/10/22oct-293x300.png 293w" sizes="(max-width: 608px) 100vw, 608px"></a>
 <figcaption id="caption-attachment-52126" class="wp-caption-text">
  SoSoValue data
 </figcaption>
</figure> 
<h2 id="us-bitcoin-etfs-surpassed-21-billion-in-inflows-since-their-debut">US Bitcoin ETFs Surpassed $21 Billion in Inflows Since Their Debut</h2> 
<p>Yesterday, two Bitcoin ETFs continued to buy BTC:</p> 
<ul> 
 <li>BlackRock’s Bitcoin ETF, IBIT, recorded over $329 million in inflows.</li> 
 <li>Fidelity’s Bitcoin ETF, FBTC, saw $5.9 million in inflows.</li> 
</ul> 
<p>Four Bitcoin ETFs recorded outflows the other day:</p> 
<ul> 
 <li>Grayscale’s Bitcoin ETF, GBTC, saw outflows of over $4.8 million.</li> 
 <li>Ark Invest and 21Shares’ Bitcoin ETF, ARKB, recorded outflows of over $6 million.</li> 
 <li>Bitwise’s Bitcoin ETF, BITB, saw outflows of over $22 million.</li> 
 <li>VanEck’s Bitcoin ETF, HODL, recorded outflows of over $7.6 million.</li> 
</ul> 
<p>The other Bitcoin ETFs in the US did not see any outflows or inflows yesterday.</p> 
<p>The total net assets locked in Bitcoin ETFs as of October 21 were over $65.3 billion, and the crypto products had a cumulative net inflows of over $21 billion since their debut in January 2024, <a href="https://sosovalue.xyz/assets/etf/us-btc-spot" rel="nofollow noopener" target="_blank">SoSoValue</a> data shows.</p> 
<figure id="attachment_52127" aria-describedby="caption-attachment-52127" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/10/sosovalue22.png"><img loading="lazy" decoding="async" class="wp-image-52127 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/10/sosovalue22.png" alt="SoSoValue data" width="1802" height="529" title="Bitcoin ETFs Continue Inflow Streak For 7th Consecutive Day at $294M 27" srcset="https://crypto.ro/en/wp-content/uploads/2024/10/sosovalue22.png 1802w, https://crypto.ro/en/wp-content/uploads/2024/10/sosovalue22-300x88.png 300w, https://crypto.ro/en/wp-content/uploads/2024/10/sosovalue22-1024x301.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/10/sosovalue22-768x225.png 768w, https://crypto.ro/en/wp-content/uploads/2024/10/sosovalue22-1536x451.png 1536w, https://crypto.ro/en/wp-content/uploads/2024/10/sosovalue22-750x220.png 750w, https://crypto.ro/en/wp-content/uploads/2024/10/sosovalue22-1140x335.png 1140w" sizes="(max-width: 1802px) 100vw, 1802px"></a>
 <figcaption id="caption-attachment-52127" class="wp-caption-text">
  SoSoValue data
 </figcaption>
</figure> 
<p>Despite the continuous flows in Bitcoin ETFs since October 11, which have been a catalyst for BTC’s price, the coin recorded a drop from levels above $69,000 yesterday.</p> 
<h2 id="bitcoin-is-trading-above-67-000">Bitcoin Is Trading Above $67,000</h2> 
<p>At the moment of writing this article, BTC is trading above $67,000, down by over 2% in the past 24 hours.</p> 
<figure id="attachment_52128" aria-describedby="caption-attachment-52128" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-88.jpeg"><img loading="lazy" decoding="async" class="wp-image-52128 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-88.jpeg" alt="BTC price in USD today" width="1200" height="800" title="Bitcoin ETFs Continue Inflow Streak For 7th Consecutive Day at $294M 28" srcset="https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-88.jpeg 1200w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-88-300x200.jpeg 300w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-88-1024x683.jpeg 1024w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-88-768x512.jpeg 768w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-88-750x500.jpeg 750w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-88-1140x760.jpeg 1140w" sizes="(max-width: 1200px) 100vw, 1200px"></a>
 <figcaption id="caption-attachment-52128" class="wp-caption-text">
  BTC price in USD today
 </figcaption>
</figure> 
<p>On October 21, BTC surpassed $69,400 for the first time since June, ahead of a price dip at around $66,760 earlier today followed by a quick rebound.</p> 
<p>According to data from <a href="https://www.coinglass.com/LiquidationData" rel="nofollow noopener" target="_blank">CoinGlass</a>, the 24-hour liquidations for BTC totaled almost $48 million, with $40.5 million in long positions, and $7.4 million in short positions.</p> 
<p>The overall crypto market recorded over $197 million in liquidations, with over $167 in long positions, and almost $30 million in short.</p> 
<h2 id="bitcoin-price-rebound-expected">Bitcoin Price Rebound Expected</h2> 
<p>Until yesterday, BTC’s price rally has been fueled by multiple factors including continued buying by BTC ETFs, and rising odds for Donald Trump to win the US elections.</p> 
<p>Today, according to data from Polymarket, Trump continues to lead Kamala Harris by 63.7% to 36.2%.</p> 
<figure id="attachment_52129" aria-describedby="caption-attachment-52129" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/10/trump-22-oct.png"><img loading="lazy" decoding="async" class="wp-image-52129 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/10/trump-22-oct.png" alt="Polymarket" width="1131" height="473" title="Bitcoin ETFs Continue Inflow Streak For 7th Consecutive Day at $294M 29" srcset="https://crypto.ro/en/wp-content/uploads/2024/10/trump-22-oct.png 1131w, https://crypto.ro/en/wp-content/uploads/2024/10/trump-22-oct-300x125.png 300w, https://crypto.ro/en/wp-content/uploads/2024/10/trump-22-oct-1024x428.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/10/trump-22-oct-768x321.png 768w, https://crypto.ro/en/wp-content/uploads/2024/10/trump-22-oct-750x314.png 750w" sizes="(max-width: 1131px) 100vw, 1131px"></a>
 <figcaption id="caption-attachment-52129" class="wp-caption-text">
  Polymarket
 </figcaption>
</figure> 
<p>Bernstein analysts recently highlighted a strong correlation between BTC’s recent price rally and the rising odds of a Trump win.</p> 
<p>If the trend continues and markets keep <a href="https://crypto.ro/en/news/bitcoin-october-rally-a-sign-of-markets-pricing-in-a-potential-trump-2024-elections-victory/">pricing in</a> a potential win for the Republican candidate, this might help BTC’s price rebound and head towards a <a href="https://crypto.ro/en/news/trumps-crypto-boost-is-bitcoin-heading-to-new-highs-before-2024/">potential ATH</a> around the US elections.</p>

Bitcoin ETFs Continue Inflow Streak For 7th Consecutive Day at $294M

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