US Spot Bitcoin 
$68,381 Its ETF attracted investors’ attention this week by receiving record inflows of more than $2 billion. While this increase reflected increased interest from Wall Street players, it also contributed to the BTC price rising to almost $69,000. Additionally, an optimistic chart shared by a well-known analyst shows that the largest cryptocurrency is preparing to rise above $130,000.
Investor Confidence Increases
The US Spot Bitcoin ETF has been on investors’ radar lately and has recorded solid inflows over the past few days. On Friday, money flowed into investment vehicles for six consecutive days through Oct. 18, showing increased confidence among Wall Street players.
According to data from Farside Investors, Spot BTC ETFs received a total of $273.7 million in inflows on Friday, while no outflows were recorded. While total inflows on a weekly basis reached 2.12 billion dollars, this figure reached 2.38 billion dollars in the last six days. This strong institutional interest has enabled the Bitcoin ETF to receive total inflows of $21 billion since January 2024.
Analysts Shared Their Expectations
Veteran trader and well-known crypto market expert Peter Brandt highlighted his BTC analysis and stated that there could be a potential rally to $130,000. Brandt praised analyst internbrah’s “McRib” indicator, stating that this indicator often leads to a 2x rally for the crypto. “According to internbrah’s analysis, the ‘McRib’ indicator increases the potential for BTC to rise to $130,000,” said Peter Brandt.
Considering that Bitcoin is currently trading between $65-68 thousand, some experts suggest that BTC could surpass $130 thousand in the near future. Additionally, the incoming US Presidential Election is expected to improve market sentiment towards digital assets due to the increasing influence of cryptocurrencies in politics.
While the BTC price recently increased by approximately 0.6% to $68,348, its one-day trading volume decreased by 15% to $30.31 billion. BTC reached $68,969.75 in the last 24 hours. internbrah’s indications support a similar BTC price analysis by another expert; This expert predicts that BTC can reach 110 thousand dollars in the near future.
These developments in the global crypto market paint a positive picture for investors. While the great interest in the US Spot Bitcoin ETF supports the increase in the price of BTC, the positive opinions of analysts also reinforce confidence in the future potential of the market. Investors think this increase in institutional interest could bring long-term stability to the crypto market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
