Bitcoin Achieves Highest Weekly Close Since January
- Bitcoin closed at $84,467 on September 27, marking its highest weekly close since January.
- The cryptocurrency opened the week at $81,178 and reached a high of $87,395.
- BTC’s price gained approximately 44% in Q3, making it the second-best third quarter on record.
- Analyst Benjamin Cowen noted that despite reclaiming the market‘s technicals, BTC did not achieve a typical post-reclamation run of up to 30%.
- U.S. spot bitcoin exchange-traded funds (ETFs) saw an inflow of roughly $2.4 billion last week.
Bitcoin’s recent performance highlights a significant recovery from earlier in the year, with its highest weekly close since January and substantial quarterly gains. However, analysts like Benjamin Cowen remain cautious due to muted price movements compared to historical trends after similar technical recoveries.
The notable inflows into U.S.-based Bitcoin ETFs further underscore rising investor interest as October begins—a month historically favorable for Bitcoin prices.(Source)
