The US Spot Bitcoin 
$98,381 ETF has attracted record inflows exceeding 2 billion dollars this week, capturing the attention of market participants. This surge reflects an increase in interest from Wall Street players and has played a role in pushing BTC prices close to 69,000 dollars. Additionally, an optimistic chart shared by a prominent analyst suggests that the largest cryptocurrency is preparing to surpass 130,000 dollars.
Investor Confidence Grows
The US Spot Bitcoin ETF has recently been on the radar of investors, recording solid inflows over the past few days. On Friday, there were inflows into investment vehicles for six consecutive days leading up to October 18, indicating a rise in confidence among Wall Street players.
According to Farside Investors data, Spot BTC ETFs received a total of 273.7 million dollars on Friday, with no recorded outflows. Weekly inflows reached 2.12 billion dollars, while this figure soared to 2.38 billion dollars over the past six days. This robust institutional interest has enabled the Bitcoin ETF to accumulate a total of 21 billion dollars in inflows since January 2024.
Analysts Share Their Expectations
Veteran trader and well-known cryptocurrency market expert Peter Brandt emphasized BTC analysis, stating there could be a potential rally to 130,000 dollars. Brandt praised analyst internbrah’s “McRib” indicator, noting it typically leads to a doubling rally in crypto. According to Brandt, “the McRib indicator increases the potential for BTC to rise to 130,000 dollars.”
Considering Bitcoin is currently trading between 65,000 and 68,000 dollars, some experts suggest BTC could soon surpass 130,000 dollars. Moreover, the upcoming US Presidential Election is expected to improve market sentiment towards digital assets due to the increasing influence of cryptocurrencies in politics.
Recently, the BTC price rose approximately 0.6% to 68,348 dollars, while daily trading volume fell by 15% to 30.31 billion dollars. BTC reached a level of 68,969.75 dollars in the last 24 hours. Indicators from internbrah are supported by another expert, who predicts BTC will reach 110,000 dollars in the near future.
These developments in the global cryptocurrency market create a positive outlook for investors. The significant interest in the US Spot Bitcoin ETF supports the increase in BTC prices, while analysts’ optimistic views bolster confidence in the market’s future potential. Investors believe that this rise in institutional interest may bring long-term stability to the cryptocurrency market.
