On Tuesday, leading cryptocurrency Bitcoin strike The price was $71,500, the highest since early June.
The flagship cryptocurrency is up about 12% this month, and Uptober lives up to its name.
According to crypto analysis firm CryptoQuant, the current bull market is being led by the whale on the Binance exchange, which has seen steady inflows of US capital.
look-on-chain data show Earlier this Friday, Whale recently withdrew approximately $40 million worth of Bitcoin from the Binance exchange.
Bitcoin ETF records huge inflows
Bitcoin exchange-traded funds (ETFs) recorded a whopping $479 million worth of inflows on Monday, according to data provided by Pharcyde Investors.
Unsurprisingly, BlackRock's IBIT recorded $315 million worth of new capital in one day.
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This marks the fifth consecutive day of record inflows for Bitcoin ETFs. Nearly $4 billion has been raised in the past 12 business days. As ETF analyst Neta Geraci pointed out, ETFs with total assets of $4 billion account for less than 10% of all ETFs in existence.
On Monday, these products recorded their largest single-day inflow since October 14th.
Gold hits new all-time high
Meanwhile, the price of gold recently hit a new all-time high of around $2,760. That said, Bitcoin's nemesis Peter Schiff admitted that the yellow metal's recent advances will likely garner little attention compared to the flagship cryptocurrency.
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Remarkably, people are now searching for the term “Bitcoin” on Google. increasebut they remain relatively low compared to previous bull markets.
