Hold onto your hats, crypto enthusiasts, because the latest whirlwind in the Bitcoin world is here! While Bitcoin spot ETFs were basking in nearly $1 billion worth of love from investors over the past week, Bitcoin's price decided to play it cool, not hitting any new highs.
The Bitcoin ETFs had a rockstar week with a tidal wave of cash flowing in, hitting almost a billion dollars in just five days! But wait, there's a twist in the tale for Ethereum ETFs, which ended the week with a bit of a frown, losing some ground.
Last weekend, the Bitcoin ETFs were the talk of the town, raking in over $2 billion in net inflows—their best performance since March! This sent Bitcoin on a joyride, zooming from $62,500 to a dazzling $69,000 by Friday. What a spectacular run!
The party continued on Monday, October 21, with a splash of $294.3 million flowing in. But Tuesday was a bit of a buzzkill, with a dip of $79.1 million—the first stumble since October 10. Thankfully, the funds bounced back midweek, with a steady climb on Wednesday, Thursday, and a grand finale on Friday with a cool $402 million rolling in.
Leading the charge was BlackRock's IBIT, attracting a whopping $1.147 billion throughout the week! Talk about a heavyweight champion. However, the rest of the Bitcoin ETFs had a tougher time, ending the week in the red.
Despite this financial fiesta, Bitcoin's price didn't quite match the excitement. It peaked at $69,500 on Monday but took a little nosedive to $65,000 midweek, before settling at $67,000—a slight 1.7% dip for the week.
Meanwhile, Ethereum ETFs are still waiting for their spotlight moment. They started and ended the week with some losses, clocking out with $24.6 million in net outflows. Ethereum's price has been on a bit of a rollercoaster too, dropping over 6% in the last week, struggling to keep its head above $2,500.
So there you have it, a week full of highs, lows, and everything in between in the crypto universe! Stay tuned for more twists and turns in this digital saga.
