U.S. Bitcoin ETFs experienced a notable surge in net inflows, amounting to $870 million in just one day on October 30, 2024. This significant inflow was led by BlackRock's IBIT, which accumulated $629 million, followed by Fidelity's FBTC with $133 million.
The total ETF trading volume soared to $4.75 billion, marking the highest since March. Bitcoin's price surged to $73,000, nearing its previous all-time high. The heightened market activity comes as the U.S. elections draw closer, with market participants setting $80,000 as a target price for Bitcoin.
This surge in both trading volume and price reflects growing investor confidence and market excitement in the Bitcoin ETF arena. The upcoming U.S. elections may further influence these dynamics, impacting both institutional and retail investor strategies.
