Crypto airdrops researcher alert! Bitcoin’s vibes just hit a new high, fueled by major ETF action. The alpha crypto’s dominance is now cruising at a solid 58%, a peak not seen since 2021, and it’s setting the stage for what could be a serious bull run. According to insiders spilling their beans to Decrypt, the stars might be aligning for Bitcoin, thanks to shrinking exchange reserves and skyrocketing open interest.
Institutions Flood Bitcoin ETFs
Big players are rolling into Bitcoin like never before. Institutional whales are pouring cash into spot ETFs, driving a $458.5 million inflow on October 16 alone. Not to flex too hard, but BlackRock’s IBIT gobbled up $393 million, while Fidelity’s FBTC claimed another $14.8 million. No outflows? Check. And the others? Grayscale’s GBTC, Wisdom Tree’s BTCW, and Hashdex’s DEFI — nada. That’s right, no extra love for them, just steady hodling.
The total inflows into Bitcoin’s spot ETFs over four days have exploded to a hefty $1.6 billion. Compare that to Ethereum’s $28.4 million in the same window, and you’ll see why BTC is in the driver’s seat. Even BlackRock’s ETHA could only pull in $11.89 million yesterday. Ethereum’s trying, but Bitcoin’s got the juice.
Market Dynamics Signal Bullish Growth
Georgy Slavin-Rudakov, B2BINPAY’s CMO, thinks Bitcoin’s in a good spot. But hold your horses, it’s not all moon talk just yet. “The price is climbing toward the midpoint of this range, but it has not yet established a decisive breakout,” he shared. In crypto-speak? It’s flirting with higher highs but hasn’t yet shaken off the bears lurking in the shadows. He’s still got faith though—by 2025, we could see Bitcoin fully break free, thanks to market forces and investor optimism.
Bitcoin vs. Gold: A $1.3 Trillion Question
The market’s bullish energy aligns perfectly with a broader trend that Binance Research clocked in September—crypto’s total cap jumped 8%, thanks to economic tailwinds. Xapo Bank’s COO, Dary McGovern, thinks the best is yet to come. Bitcoin’s capped supply and global adoption could take it beyond gold’s staggering $18 trillion market cap. With just 21 million Bitcoins ever to exist, he says, “I expect Bitcoin’s market cap to eventually surpass that of Gold.” Satoshi would be proud.
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