Tucker Carlson

Bitcoin

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin ETFs in the US continued their inflow streak at over $479 million on October 28.</li> 
 <li>BTC is currently trading above $71,000.</li> 
</ul> 
<p>Bitcoin’s price recorded a notable rally today, surpassing the important level of $71,000. By surging almost 9% in the past month, BTC proved that Uptober is still on the table, racing towards its previous ATH above $73,000 recorded in March.</p> 
<p>At the moment of writing this article, BTC is trading above $71,000, up by almost 5% today, after earlier reaching $71,450.</p> 
<figure id="attachment_52402" aria-describedby="caption-attachment-52402" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-100.jpeg"><img loading="lazy" decoding="async" class="wp-image-52402 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-100.jpeg" alt="BTC price in USD today" width="1200" height="800" title="Bitcoin Price Rallied Above $71K, Nearing Its March ATH 13" srcset="https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-100.jpeg 1200w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-100-300x200.jpeg 300w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-100-1024x683.jpeg 1024w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-100-768x512.jpeg 768w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-100-750x500.jpeg 750w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-100-1140x760.jpeg 1140w" sizes="(max-width: 1200px) 100vw, 1200px"></a>
 <figcaption id="caption-attachment-52402" class="wp-caption-text">
  BTC price in USD today
 </figcaption>
</figure> 
<p>Bitcoin kicked off the last week of October with bullish moves, ahead of the US elections scheduled for November 5. This is an important <a href="https://crypto.ro/en/news/bitcoin-price-breaks-68000-top-events-to-watch-this-week-october-28-november-1/">macro week</a> filled with events that could still influence the trajectory of BTC’s price.</p> 
<p>Bitcoin’s recent rally is catalyzed by multiple factors, including increasing demand in custodial wallets.</p> 
<h2 id="bitcoin-demand-in-custodial-wallets-is-rising">Bitcoin Demand in Custodial Wallets is Rising</h2> 
<p>According to CryptoQuant’s founder and CEO, Ki Young Ju, Bitcoin is seeing increased institutional demand in custodial wallets.</p> 
<p>In a <a href="https://x.com/ki_young_ju/status/1851132489420718423" rel="nofollow" target="_blank">post</a> on X, he detailed that over the past year, 278,000 BTC flowed into the US BTC ETFs, representing 80% retail, and 670,000 BTC went into whale wallets. He noted that whale wallets are the ones with at least 1,000 BTC coins, excluding exchanges and minting pools.</p> 
<p>In custodial wallets, institutional demand is twice the one of retail.</p> 
<figure style="width: 100%" class="wp-caption alignnone">
 <a href="https://x.com/ki_young_ju/status/1851132489420718423/photo/1" rel="nofollow" target="_blank"><img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GbCBqNTakAAc1j4?format=jpg&amp;name=4096x4096" alt="CryptoQuant via X" width="4000" height="2250" title="Bitcoin Price Rallied Above $71K, Nearing Its March ATH 14"></a>
 <figcaption class="wp-caption-text">
  CryptoQuant via X
 </figcaption>
</figure> 
<p>Speaking of BTC ETFs in the US, the crypto products continued their inflow streak with notable influxes.</p> 
<h2 id="btc-etfs-inflows-on-october-28">BTC ETFs Inflows on October 28</h2> 
<p>Yesterday, the US Bitcoin ETFs recorded over $479 million in inflows as follows:</p> 
<ul> 
 <li>BlackRock’s Bitcoin ETF, IBIT, recorded over $315 million in inflows.</li> 
 <li>Ark Invest and 21 Shares’ Bitcoin ETF, ARKB, recorded almost $60 million in inflows.</li> 
 <li>Fidelity’s Bitcoin ETF, FBTC, saw over $44 million in inflows.</li> 
 <li>Bitwise’s Bitcoin ETF, BITB, recorded over $38 million in inflows.</li> 
 <li>Grayscale’s Bitcoin ETF, BTC, saw over $21 million in inflows.</li> 
</ul> 
<p>The other Bitcoin ETFs did not record any outflows or inflows yesterday.</p> 
<figure id="attachment_52403" aria-describedby="caption-attachment-52403" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/10/29-oct.png"><img loading="lazy" decoding="async" class="wp-image-52403 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/10/29-oct.png" alt="SoSoValue " width="1806" height="489" title="Bitcoin Price Rallied Above $71K, Nearing Its March ATH 15" srcset="https://crypto.ro/en/wp-content/uploads/2024/10/29-oct.png 1806w, https://crypto.ro/en/wp-content/uploads/2024/10/29-oct-300x81.png 300w, https://crypto.ro/en/wp-content/uploads/2024/10/29-oct-1024x277.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/10/29-oct-768x208.png 768w, https://crypto.ro/en/wp-content/uploads/2024/10/29-oct-1536x416.png 1536w, https://crypto.ro/en/wp-content/uploads/2024/10/29-oct-750x203.png 750w, https://crypto.ro/en/wp-content/uploads/2024/10/29-oct-1140x309.png 1140w" sizes="(max-width: 1806px) 100vw, 1806px"></a>
 <figcaption id="caption-attachment-52403" class="wp-caption-text">
  SoSoValue
 </figcaption>
</figure> 
<p>According to official data from SoSoValue, the total net assets locked in BTC ETFs as of October 28 were over $68.4 billion, while the cumulative total flows in the crypto products surpassed $22.4 billion.</p> 
<p>Since October 11, BTC ETFs have recorded constant inflows, with the only exception being October 22, when the crypto products recorded $79 in outflows. The most significant inflow day was October 14, when the BTC ETFs saw almost $556 million in inflows.</p> 
<h2 id="other-btc-price-catalysts">Other BTC Price Catalysts</h2> 
<p>Bitcoin’s recent price rally is catalyzed by multiple other factors, including the upcoming <a href="https://crypto.ro/en/news/bitcoin-october-rally-a-sign-of-markets-pricing-in-a-potential-trump-2024-elections-victory/">US elections</a>&nbsp;and potential results, increasing adoption and interest, notable crypto-related <a href="https://crypto.ro/en/news/pennsylvania-passes-digital-assets-authorization-act-with-bipartisan-support/">events</a>, potential upcoming rate cuts by the US Fed, and the current state of the US economy.</p> 
<p>As previously noted, BTC could also be already pricing in a potential Trump win for the US Presidency. According to Polymarket data, his winning odds are not at 66.3%, fueled by the weekend NYC rally and the important <a href="https://x.com/joerogan/status/1851117181964046431" rel="nofollow" target="_blank">Joe Rogan interview</a>.</p> 
<p>Important names including RFK, Elon Musk, and Tucker Carlson attended<a href="https://x.com/realDonaldTrump/status/1850662507481792623" rel="nofollow" target="_blank"> Trump’s rally</a> last Sunday at Madison Square Garden.</p>

Bitcoin Price Rallied Above $71K, Nearing Its March ATH

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