Bitcoin has surged above $114,000, marking its highest price since August 24. This increase follows a significant influx of $757.1 million into U.S. spot Bitcoin ETFs, the largest weekly inflow in eight weeks. Analysts attribute this rise to favorable reports on inflation and expectations of a potential interest rate cut by the Federal Reserve. Specifically, the Consumer Price Index data prompted investor optimism, resulting in a total of $1.39 billion flowing into Bitcoin ETFs this September. Unlike Bitcoin, Ethereum-based funds experienced a negative net flow of $668.72 million. As futures trading volume for Ethereum rose substantially, indicating speculative interest, Bitcoin ETF fund inflows showed a marked shift in capital returning to Bitcoin from Ether, reflecting broader market sentiments ahead of key financial decisions. With expectations of a rate cut likely fueling these inflows, analysts hold a bullish outlook for Bitcoin going forward.

Source đź”—