The post Crypto Price Analysis 10-31 BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, BITTENSOR: TAO, OPTIMISM: OP, COSMOS: ATOM, APECOIN: APE appeared on BitcoinEthereumNews.com.

Bitcoin (BTC) is teasing a record high after it peaked at $73,464 on October 30, bringing it within touching distance of its all-time high of $73,750. However, the cryptocurrency has registered a marginal decline during the ongoing session and is trading just above $73,200.  Meanwhile, spot Bitcoin ETFs continued to see significant inflows with BlackRock’s IBIT recording over $629 million in single-day inflows on the back of BTC almost posting a new all-time high. BTC’s recent jump can be attributed to pre-election market volatility fueling market volatility. The overall crypto market cap registered a marginal decline of 0.07%. Speaking about the surge in spot Bitcoin inflows, ChangeNOW CMO Pauline Shangett stated,  “With Bitcoin nearing its all-time high, investors are capitalizing on pre-election market volatility by reallocating into digital assets, as shown by the substantial inflows into BlackRock’s IBIT. This activity underscores Bitcoin’s emerging role as a safe haven in volatile markets.” Spot Bitcoin ETFs Register Record Inflows  US-based spot Bitcoin ETFs registered over $870 million in net inflows on Tuesday, the third-highest figure since their January launch. BlackRock’s IBIT led the charge with over $629 million in inflows, followed by Fidelity’s FBTC, which registered $133 million. Bitwise’s BITB registered inflows of $52 million, while Grayscale’s Mini Bitcoin Trust attracted $29 million in inflows. Rounding up the lot were VanEck’s HODL ($16 million) and Ark’s ARKB at $12 million. On the other hand, Grayscale’s GBTC was the only ETF that registered net outflows of around $17 million.  The spurt in demand came as BTC fell just short of setting a new all-time high as markets surged ahead of the US elections. Investors expect a surge in volatility as next week’s elections draw closer, with many predicting a jump to $80,000 in November, regardless of the outcome. Bloomberg ETF analyst Eric Balchunas…

---

Filed under: News - @ October 31, 2024 5:27 pm