bullish

Bitcoin

Shiba Inu

Spot

The U.S.-based spot Bitcoin exchange-traded funds have been running wild over the past three weeks, acting as a major catalyst for the market-wide bullish momentum. 
According to <a href="https://farside.co.uk/bitcoin-etf-flow-all-data/" target="_blank" rel="nofollow">data</a> provided by Farside Investors, spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank">BTC</a>) ETFs in the U.S. recorded $870.1 million in net inflows on Oct. 29—a level last seen on June 4. BlackRock’s IBIT fund led with $642.9 million in inflows, with its total net inflows reaching $24.94 billion. 
Here’s a quick review of the ETF performance yesterday:&nbsp; 
<ul class="wp-block-list"> 
 <li>Fidelity’s FBTC: $133.9 million in inflows.</li> 
 <li>Bitwise’s BITB: $52.5 million in inflows.</li> 
 <li>Grayscale’s mini BTC fund: $29.2 million in inflows.</li> 
 <li>VanEck’s HODL: $16.5 million in inflows.</li> 
 <li>Ark 21Shares’ ARKB: $12.4 million in inflows.</li> 
 <li>Despite the massive inflows, Grayscale’s GBTC fund still witnessed an outflow of $17.3 million. Its total net outflows surpassed the $20 billion mark so far.</li> 
 <li>BTCO, EZBC, BRRR and BTCW remained neutral with no flows.</li> 
</ul> 
Spot Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank">ETH</a>) ETFs in the U.S. saw a net inflow of $7.6 million, according to data from Farside Investors. BlackRock’s ETHA registered an inflow of $13.6 million while Grayscale’s ETHE recorded an outflow of $6 million. 
The remaining seven ETH-related investment products saw no flows. 
 You might also like: <a rel="" href="https://crypto.news/bitcoin-miners-brace-for-earnings-analyst-sees-buying-opportunity/"> Bitcoin miners brace for earnings, analyst sees buying opportunity </a> 
<h1 class="wp-block-heading" id="another-bullish-wave">Another bullish wave</h1> 
The Bitcoin price gained 2.2% in the past 24 hours thanks to the impressive inflows into the U.S.-based <a href="https://crypto.news/bitcoin-etfs-log-4-day-inflow-streak-with-479m-ether-etfs-face-outflows/" target="_blank">spot ETFs</a>. BTC is trading at $72,400 at the time of writing. 
Bitcoin briefly <a href="https://crypto.news/crypto-turns-green-as-bitcoin-flirts-with-73k/" target="_blank">surpassed</a> the $73,500 mark on Oct. 29, getting close to its all-time high of $73,750 on March 14. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="1162" height="681" src="https://crypto.news/app/uploads/2024/10/BTCUSDT_2024-10-30_10-03-26.png" alt="Spot Bitcoin ETFs recorded 5-month high inflows of $870m - 30" class="wp-image-14306883">
 <figcaption class="wp-element-caption">
 BTC price | Source: <a href="https://crypto.news/price/bitcoin/" target="_blank">crypto.news</a>
 </figcaption>
</figure> 
Ethereum also gained 1.3% over the past day and is trading at $2,640 at the time of writing.&nbsp; 
According to <a href="https://www.coingecko.com/en/global-charts" target="_blank" rel="nofollow">data</a> from CoinGecko, the global crypto market capitalization increased by 0.2% in the past 24 hours and is currently sitting at $2.546 trillion. The total daily trading volume surged 70%, reaching $137 billion. 
The rising trading volume could indicate the rising interest of cryptocurrency investors and traders.&nbsp; 
However, it should be noted that the market is showing signs of overheating due to the consistent upward momentum without a major catalyst except for the ETF inflows. 
 Read more: <a rel="" href="https://crypto.news/shiba-inu-price-breaks-out-as-a-rare-bullish-pattern-forms/"> Shiba Inu price breaks out as a rare bullish pattern forms </a>

Spot Bitcoin ETFs recorded 5-month high inflows of $870m

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