After Bitcoin hit a record high and pulled back due to profit-taking, capital inflows reached $3.2 billion
According to ChainCatcher, citing Golden Ten Data, after bitcoin reached a new all-time high in the previous trading day, it pulled back as traders took profits. In the week ending October 3, the inflow into spot bitcoin exchange-traded funds reached $3.2 billions. James Madden, Trading Director at Deus X Pay, stated that bitcoin's rally was driven by institutional demand, favorable macroeconomic factors, and seasonal momentum, with the market also expecting the US Federal Reserve to further cut interest rates.
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