Crypto News

Bitcoin Surges 11% As Institutional Investments Fuel Price Rally

Last week, Bitcoin’s price surged from $62,800 to $69,000, marking an 11% increase and bringing it within 6% of its all-time high of $73,600.

This price movement closely mirrors trends seen in previous Q4 periods of 2012, 2016, and 2024, suggesting a potential seasonal effect driving the recent rally.

While each year had slight variations, Bitcoin consistently showed upward trends during these fourth-quarter periods, hinting that there may be cyclical patterns in play. The latest price rise, however, is largely fueled by institutional investors, with significant inflows into Spot Bitcoin ETFs contributing to the momentum.

Last week, BlackRock made headlines by acquiring 15,950 BTC, worth around $1.08 billion. Importantly, this figure only accounts for BlackRock’s purchases, as other major ETF providers such as Fidelity and Grayscale have also seen considerable inflows.

Bitcoin Liquidation Data And Spot ETFs Market 

Despite the bullish sentiment among institutional players, most Bitcoin futures traders on Binance remain bearish. Data shows that 53.71% of traders are shorting Bitcoin.

If Bitcoin reaches $69,785, approximately $83.7 million in short positions could be liquidated, potentially fueling even more upward price pressure.

Moreover, Bitcoin’s Spot ETF continued its streak of net inflows, registering a total of $294 million on October 21. This marks the seventh consecutive day of positive inflows. BlackRock’s IBIT ETF alone saw an impressive $329 million inflow, reflecting growing investor confidence in Bitcoin’s long-term potential.

As Bitcoin edges closer to its all-time high, market participants are watching closely to see if institutional investments and ETF activity will push the cryptocurrency beyond its previous records.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: volovodov/123RF // Image Effects by Colorcinch