October 9 Bitcoin ETF data signaled strong buy indications.

On October 9, 2024, Bitcoin ETFs saw strong inflows, signaling renewed investor interest after a slow start to the month. Over the past few days, inflows reached a total of $235 million, with Fidelity’s FBTC taking the lead at $103.7 million, followed closely by BlackRock’s IBIT at $97.9 million. Other ETFs, such as Bitwise’s BITB and Ark’s ARKB, also experienced positive movements, while smaller funds like VanEck’s HODL and Invesco’s BTCO saw modest gains.

This marks a significant shift after a brief period of net outflows earlier in the month. However, Bitcoin’s price continued to show bearish momentum, trading around $62,497 after falling from a recent high of $66,000. This price drop aligns with broader market volatility but has not diminished institutional interest in Bitcoin ETFs.

In contrast, Ethereum ETFs experienced a pause with no inflows or outflows recorded on the same day, reflecting a more cautious stance towards Ethereum-related products. The divergence between Bitcoin and Ethereum ETFs highlights differing market conditions for the two leading cryptocurrencies.