🏦 BITCOIN ETFs START OCTOBER WITH $134.4M IN NET INFLOWS

U.S. spot Bitcoin ETFs have started October in positive territory.

The funds recorded:

• October 1: +$102.7M
• October 2: +$31.7M

Total:

+$134.4 MILLION

The inflows came immediately after Bitcoin ETFs recorded approximately $148.7 million in net outflows on September 30.

That outflow had ended a nine-session inflow streak.

Even with that interruption, September was one of the strongest months for Bitcoin ETF demand in nearly a year.

Important:

$134 million is NOT an unusually large amount for the Bitcoin ETF market.

There have been individual sessions with substantially larger flows.

What matters is the direction.

Institutional Bitcoin demand remained positive through both of October's first trading sessions.

And that demand is arriving while BTC is again testing the upper end of its recent price range.

Price is approaching resistance.

ETF capital is still coming in.

Now we see whether the two trends reinforce each other.

@BitcoinNews