Donald Trump

Bitcoin

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>US Bitcoin ETFs recorded renewed inflows, with BlackRock’s IBIT seeing $314 million influxes.</li> 
 <li>BTC bounced back above $67,000 and was mentioned by top lawmakers at the BRICS summit.</li> 
</ul> 
<p>Yesterday, the US Bitcoin ETFs recorded new inflows following a day of outflows on October 22, pushing BTC’s price back above $67,000, along with other catalysts.</p> 
<h2 id="in-depth-data-on-bitcoin-etfs-inflows">In-Depth Data on Bitcoin ETFs Inflows</h2> 
<p>On October 23, two Bitcoin ETFs saw inflows:</p> 
<ul> 
 <li>BlackRock’s Bitcoin ETF, IBIT, recorded over $317.4 million in inflows.</li> 
 <li>Grayscale’s Bitcoin ETF, BTC, saw over $4.7 million in inflows.</li> 
</ul> 
<p>Three Bitcoin ETFs saw outflows the other day:</p> 
<ul> 
 <li>Ark Invest and 21Shares’ Bitcoin ETF, ARKB, recorded over $99 million in outflows.</li> 
 <li>Bitwise’s Bitcoin ETF, BITB, recorded over $25 million in outflows.</li> 
 <li>VanEck’s Bitcoin ETF, HODL, saw over $5.6 million in outflows.</li> 
</ul> 
<p>The other Bitcoin ETFs didn’t record any inflows or outflows yesterday. According to official SoSoValue data, the total net assets locked in the US crypto products surpassed $64 billion as of October 23, while their cumulative net flows topped $21.3 billion.</p> 
<figure id="attachment_52248" aria-describedby="caption-attachment-52248" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/10/24oct.png"><img loading="lazy" decoding="async" class="wp-image-52248 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/10/24oct.png" alt="SoSoValue data" width="1454" height="571" title="Bitcoin Reclaims $67,000 - BTC ETFs See Renewed Inflows and BRICS Discusses Crypto 23" srcset="https://crypto.ro/en/wp-content/uploads/2024/10/24oct.png 1454w, https://crypto.ro/en/wp-content/uploads/2024/10/24oct-300x118.png 300w, https://crypto.ro/en/wp-content/uploads/2024/10/24oct-1024x402.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/10/24oct-768x302.png 768w, https://crypto.ro/en/wp-content/uploads/2024/10/24oct-750x295.png 750w, https://crypto.ro/en/wp-content/uploads/2024/10/24oct-1140x448.png 1140w" sizes="(max-width: 1454px) 100vw, 1454px"></a>
 <figcaption id="caption-attachment-52248" class="wp-caption-text">
  SoSoValue data
 </figcaption>
</figure> 
<p>Yesterday’s inflows in Bitcoin ETFs have supported Bitcoin in regaining prices above $67,000, following a price dip to $65,000 levels on October 23.</p> 
<h2 id="bitcoin-trades-above-67-000">Bitcoin Trades Above $67,000</h2> 
<p>At the moment of writing this article, BTC is priced above $67,300, following a price drop near $65,200 yesterday.</p> 
<figure id="attachment_52249" aria-describedby="caption-attachment-52249" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-92.jpeg"><img loading="lazy" decoding="async" class="wp-image-52249 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-92.jpeg" alt="BTC price in USD today" width="1200" height="800" title="Bitcoin Reclaims $67,000 - BTC ETFs See Renewed Inflows and BRICS Discusses Crypto 24" srcset="https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-92.jpeg 1200w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-92-300x200.jpeg 300w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-92-1024x683.jpeg 1024w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-92-768x512.jpeg 768w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-92-750x500.jpeg 750w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-92-1140x760.jpeg 1140w" sizes="(max-width: 1200px) 100vw, 1200px"></a>
 <figcaption id="caption-attachment-52249" class="wp-caption-text">
  BTC price in USD today
 </figcaption>
</figure> 
<p>Earlier, BTC’s price climbed close to $67,500, before stabilizing around $67,300 levels.</p> 
<p>Bitcoin’s price rebound coincided with new inflows in BTC ETFs and with the coin becoming a topic during talks at the BRICS summit.</p> 
<h2 id="bitcoin-was-mentioned-during-the-16th-brics-summit">Bitcoin Was Mentioned During the 16th BRICS Summit</h2> 
<p>On October 22, the 16th BRICS summit debuted in Kazan, Russia, and official notes from Bloomberg revealed that Bitcoin was one of the subjects addressed at the meetings.</p> 
<p>Head of digital assets research at VanEck, Matthew Sigel, shared a <a href="https://x.com/matthew_sigel/status/1849101331325178236" rel="nofollow" target="_blank">post</a> via X yesterday, citing information from Bloomberg, highlighting that top lawmakers pushed the idea that Russian miners could sell their BTC reserves to international buyers who would use the coins to pay for imports.</p> 
<p>In other words, he suggested that Bitcoin could become a way for Russia to bypass the Western sanctions imposed on the country after the debut of the Ukraine war.</p> 
<p>Sanctions have hit Russia hard, but crypto could provide an alternative to traditional financial systems that rely on the US dollar and the banks.</p> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GalTUTiXcAAJF-V?format=png&amp;name=small" alt="Matthew Sigel via X" width="656" height="557" title="Bitcoin Reclaims $67,000 - BTC ETFs See Renewed Inflows and BRICS Discusses Crypto 25">
 <figcaption class="wp-caption-text">
  Matthew Sigel via X
 </figcaption>
</figure> 
<p>Also, Sigel <a href="https://x.com/matthew_sigel/status/1849101333518757959" rel="nofollow" target="_blank">mentioned</a> that Russia’s BitRiver, a service provider for green crypto mining, and the Russian Direct Investment Fund (RDIF) have recently announced a partnership for a BRICS-wide mining initiative.</p> 
<p>According to Bloomberg data, the nine members of BRICS now account for 26% of the world’s population, and 45% of the GDP, compared to G7 10% of the world’s population and 44% of the GDP.</p> 
<p>BRICS includes Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia and the UAE, while the G7 organization consists of Canada, France, Germany, Italy, Japan, the UK and the USA.</p> 
<p>Bitcoin became a subject not only at BRICS but also in the US, especially in 2024, with both Presidential candidates promising support for the crypto industry.</p> 
<p>The US elections are scheduled for November 5 and so far, <a href="https://crypto.ro/en/news/bitcoin-bullish-price-action-is-triggered-by-surging-trump-election-odds/">rising odds</a> of a Donald Trump win have been also correlated with Bitcoin’s price surges.</p> 
<p>Considering the increasing global spotlight on Bitcoin, new bullish moves and even a new ATH in 2024 are definitely not off the table.</p>

Bitcoin Reclaims $67,000 – BTC ETFs See Renewed Inflows and BRICS Discusses Crypto

Table of Contents

crypto.ro global

Other articles published on Oct 24, 2024

Dogwifhat Price Prediction: WIF Pumps 6%, But Experts Say This Meme Coin Rival Might Be The Best ...

World Liberty Fi Website Crashes Amid $6.5M Raise

MakerDAO May Return as Core Brand After Sky Rebrand Faces Backlash

Satoshi-Era Bitcoin Wallet Reactivated With $10 Million in BTC Profits

Holders Divide Jupiter Token To Smaller Wallets, Most ASR Claims Less Than $10

Podcast Recap: Crypto Megan in Conversation with Zeebu and SilentSwap Founders on Transforming th...

Join our free newsletter for daily crypto updates!