Table of Contents
Key Points
US Bitcoin ETFs Surpassed $21 Billion in Inflows Since Their Debut
Bitcoin Is Trading Above $67,000
Bitcoin Price Rebound Expected
Key Points
Bitcoin ETFs have seen inflows of nearly $2.22 billion over the past 7 days.
BTC price is trading above $67, rebounding after an earlier price decline from that level.
US Bitcoin ETFs recorded their seventh day on October 21, at more than 294 million .
Since October 11, crypto products have seen inflows totaling nearly $2.22 billion, with the largest inflow being on October 14, at $556 million, according to data from SoSoValue.
US Bitcoin ETFs Surpassed $21 Billion in Inflows Since Their Debut
Yesterday, two Bitcoin ETFs continued to buy BTC:
- BlackRock’s Bitcoin ETF, IBIT, recorded over $329 million in inflows.
- Fidelity’s Bitcoin ETF, FBTC, saw $5.9 million in inflows.
Four Bitcoin ETFs recorded outflows the other day:
- Grayscale’s Bitcoin ETF, GBTC, saw outflows of over $4.8 million.
- Ark Invest and 21Shares’ Bitcoin ETF, ARKB, recorded outflows of over $6 million.
- Bitwise’s Bitcoin ETF, BITB, saw outflows of over $22 million.
- VanEck’s Bitcoin ETF, HODL, recorded outflows of over $7.6 million.
The other Bitcoin ETFs in the US did not see any outflows or inflows yesterday.
The total net assets locked in Bitcoin ETFs as of October 21 were over $65.3 billion, and the crypto products had a cumulative net inflows of over $21 billion since their debut in January 2024, SoSoValue data shows. Despite the continuous flows in Bitcoin ETFs since October 11, which have been a catalyst for BTC’s price, the coin recorded a drop from levels above $69,000 yesterday.
Bitcoin Is Trading Above $67,000
At the moment of writing this article, BTC is trading above $67,000, down by over 2% in the past 24 hours.
On October 21, BTC surpassed $69,400 for the first time since June, ahead of a price dip at around $66,760 earlier today followed by a quick rebound.
According to data from CoinGlass, the 24-hour liquidations for BTC totaled almost $48 million, with $40.5 million in long positions, and $7.4 million in short positions.
The overall crypto market recorded over $197 million in liquidations, with over $167 in long positions, and almost $30 million in short.
Bitcoin Price Rebound Expected
Until yesterday, BTC’s price rally has been fueled by multiple factors including continued buying by BTC ETFs, and rising odds for Donald Trump to win the US elections.
Today, according to data from Polymarket, Trump continues to lead Kamala Harris by 63.7% to 36.2%.