Blackrock ETF Inflows Hit Zero as Bitcoin (BTC) Price Analysis Shows a Strong Rebound

Bitcoin jumped 14% in October, fueled by the hope of Trump's potential return to office as a pro-crypto leader. But while Bitcoin climbed, Bitcoin Spot ETFs

Bitcoin (BTC) jumped 14% in October, largely driven by the prospect of Trump’s potential return to office as a pro-crypto leader. But while Bitcoin clocked gains, Bitcoin Spot ETFs took a surprising hit on Monday, with $54.9 million in outflows, breaking a streak of steady inflows. Even BlackRock’s popular IBIT fund saw no new inflows for the first time in a month. As Election Day approaches, are investors beginning to pull back?

Blackrock ETF Inflows Hit Zero

Bitcoin exchange-traded funds (ETFs) in the U.S. reached a milestone this week, with a record $893 million in total inflows on October 31 alone. Meanwhile, BlackRock’s iShares Bitcoin Trust ETF (IBIT) led the pack, securing a massive $875 million in just one day and bringing its total contributions up to nearly $2.2 billion.

However, momentum shifted drastically just 3 days before the election results. In a change of political tides, total U.S. Bitcoin ETF inflows took a hit, showing $54.9 million in outflows, according to data from Farside.

Leading the outflows, Fidelity reported $25.6 million in outflows, followed by ARK with $24.1 million, as per Investors Farside data. Meanwhile, the BlackRock Bitcoin ETF registered zero inflows for the first time in the past several trading sessions.

These outflows come as digital assets face growing economic pressures and regulatory uncertainties, adding to investor concerns in an already turbulent market.

Bitcoin Price Analysis

Over the past few days, Bitcoin (BTC) has seen a strong rebound, peaking at around $73,300. However, on-chain data reveals that Bitcoin has formed a “golden cross,” suggesting that even better days may be ahead.

A golden cross is a positive signal that occurs when the 30-day moving average crosses above the 365-day moving average. This pattern often indicates a potential continuation of a bullish trend, suggesting that a new rally might be on the horizon. Currently, the price of Bitcoin is at $69,591.07, following a slight dip of 0.93% in the last 24 hours.

As the U.S. elections approach, short-term implied volatility has surged to levels not seen in months, outpacing longer-term expectations and leading to a significant inversion in the market dynamics

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