Bitcoin ETFs kickstart ‘Uptober’ with $3.2B in second-best week on record
Bitcoin ETFs are the market’s “clearest sentiment barometer,” indicating an incoming breakout for “Uptober,” analysts told Cointelegraph.
US-listed spot Bitcoin exchange-traded funds (ETFs) began the historically bullish month of October with their second-best week of inflows since launch, signaling renewed investor optimism.
Spot Bitcoin (BTC) ETFs recorded $3.24 billion worth of cumulative net positive inflows over the past week, nearly matching their record of $3.38 billion in the week ending Nov. 22, 2024, according to data from SoSoValue.
The figure marks a sharp rebound from the previous week’s $902 million in outflows. Analysts attributed the turnaround to growing expectations of another US interest rate cut, which has improved sentiment toward risk assets.
