Bitcoin Surges Past $114K Amid Record ETF Inflows
- Bitcoin reached a two-week high above $114,000 on Thursday morning.
- U.S. spot Bitcoin ETF inflows hit $757.1 million on Wednesday, marking an eight-week high.
- Total U.S. ETF Bitcoin accumulation for September stands at $1.39 billion.
- Ethereum funds recorded a negative net flow of $668.72 million in September.
- CME’s FedWatch tool indicates a high probability of a Federal Reserve rate cut.
The surge in Bitcoin’s price and ETF inflows is attributed to positive economic indicators and anticipation of a Federal Reserve rate cut decision, which has led to capital rotation from Ethereum back into Bitcoin.
Bitcoin’s rise past $114,000 and significant ETF inflows highlight investor confidence amid expectations of economic stimulus measures by the Fed through potential rate cuts.(Source)
