- Within the last 30 days, over $5.76 billion has entered into Bitcoin ETFs, with a new high record of $1.09 billion in daily inflows.
- The Coinbase Premium Gap has simultaneously stayed positive for 42 consecutive days, showing strong U.S. institutional buying pressure as Bitcoin continues its “Up-Tober” rally.
After several months of price consolidation and minor pullbacks, Bitcoin finally broke through its all-time high of $125,000, and analysts have since then predicted that level is only a stepping stone to the higher price it’s positioned for.
One of the major driving forces for the Bitcoin price rally in recent times is the amount of money that has come in through Bitcoin ETF. Within the last 30 days, over $5.76 billion has been invested into Bitcoin through ETFs.
Source: Cryptoquant (X)
In fact, data from Sosovalue showed that about $1.09 billion worth of ETF inflows was recorded on the 6th of October, marking the highest record of daily inflows for BTC. While there continue to be massive inflows into the market, major exchanges like Coinbase with massive investors deal with a ‘chunk’ of the money coming in.
Also Read: Bitcoin Surges Past $125K Backed by $2.2B ETF Inflows and Rising Spot Activity
Bitcoin Coinbase Premium Indicates Buying Pressure
According to data shared by Cryptoquant, Coinbase Premium has spiked above $100 plus multiple times. In simple words, it just explains that Bitcoin is being bought at a higher price on Coinbase (a U.S.-based exchange) than it is on Binance, and the difference in its price is over $100.
So basically, U.S. buyers (mainly institutions or high-net-worth investors) are buying more aggressively than the international/small-scale traders on Binance. Recently, the Bitcoin Coinbase Premium Gap has stayed positive, showing that Coinbase buyers have been more active than Binance users during this ‘Up-Tober’ rally. On the 3rd of October, the premium reached $140, its highest point yet
.Source: Cryptoquant (X)
The data also showed that it has maintained the positive position for the last 42 days and only cooled off during the weekend for a short time during the all-time high breakout on Saturday before reverting back.
Overall Increase in Bitcoin ETF
Significantly, when the amount of money that entered into Bitcoin ETF for 2024 is compared to what has come in from January till October, there is about an $8.1 billion increase, and with the look of things, there is a possibility that it could hit $10 billion if investors continue to offload money. In all, the continuous inflow from big investors and institutions shows that Bitcoin is positioned for more higher price growth.
Also Read: Fed Unleashes Explosive Market Boom In 2025
