Record-Breaking Day: Spot Bitcoin ETF Trading Exceeds $3 Billion As BTC Eyes Record Peak
Bitcoin (BTC) approaches its all-time high of $73,700, driven by a resurgence in the US spot Bitcoin ETF market. Total trading volume for spot Bitcoin ETFs exceeded $3 billion, with Bitcoin's price briefly surpassing $73,000 for the first time in over seven months. Since October 16, Bitcoin ETF inflows reached $2.673 billion, representing 11.8% of total ETF inflows, indicating strong interest from institutional and retail investors. US spot ETFs are projected to hold 1 million Bitcoin by next Wednesday, surpassing Satoshi Nakamoto's holdings by mid-December. Market volatility could affect these projections. Despite recent price dips to around $72,250, Bitcoin maintains strong support at $66,000. Whale accumulation is increasing, suggesting institutional demand is outpacing retail interest, potentially leading to significant price increases. Bitcoin exchange reserves are at all-time lows, indicating a supply squeeze.
