Satoshi’s Record At Stake: Bitcoin ETFs Could Cross 1 Million BTC Today
US Bitcoin ETFs experienced their highest daily inflow, totaling $870 million, as Bitcoin approaches its all-time high of $73,700. Year-to-date inflows for 12 Bitcoin ETFs exceed $23 billion. Investor sentiment is influenced by speculation regarding a potential Republican victory in the upcoming election, which may positively impact the cryptocurrency market. Bitcoin options markets indicate a one-third chance of a price swing exceeding 10% on election day, potentially pushing Bitcoin to $72,900. ETF expert Eric Balchunas noted that Bitcoin ETFs could reach 1 million BTC in holdings soon, with significant daily inflows. However, he cautioned about the unpredictability of market conditions and the risk of a selloff. As of the latest data, Bitcoin was trading at $72,360, reflecting an 8% increase over the past week.
