Bitcoin Nears All-Time High as BTC Spot ETFs See $870M Surge, Boosted by BlackRock IBIT

bitcoin is approaching a new all-time high after touching $73.5k on October 29 as daily inflows into US spot btc ETFs (exchange-traded funds) surged.

A Entry of 870 million dollars in spot bitcoin ETFs on Tuesday, the third-highest daily total since the investment vehicles launched in January, was led by the $629 million flooding into BlackRock's IBIT.

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<img fetchpriority="high" decoding="async" src="https://technicalterrence.com/wp-content/uploads/2024/11/Bitcoin-Nears-All-Time-High-as-BTC-Spot-ETFs-See-870M.png" alt="bitcoin ETF” width=”1774″ height=”509″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/11/Bitcoin-Nears-All-Time-High-as-BTC-Spot-ETFs-See-870M.png 1774w, https://insidebitcoins.com/wp-content/uploads/2024/10/Screenshot_2-1-300×86.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/10/Screenshot_2-1-1024×294.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/10/Screenshot_2-1-768×220.png 768w, https://insidebitcoins.com/wp-content/uploads/2024/10/Screenshot_2-1-1536×441.png 1536w” sizes=”(max-width: 1774px) 100vw, 1774px”/>

bitcoin is getting closer to the ATH

Rising ETF flows helped boost bitcoin price higher, with the cryptocurrency king hitting a daily high on Tuesday of $73,577, just shy of its all-time high of $73,750 recorded in March.

This surge in btc investment comes amid growing optimism that pro-cryptocurrency candidate Donald Trump will win the presidential election next week.

Polymarket Betting Odds Shown Trump leading Kamala Harris between 66.9% and 33.1%, based on more than $2.7 billion in bets.

btc price pared earlier gains to trade at $72,356 at 05:48 am EST, having risen 1.6% in the last 24 hours, according to bitcoin“>CoinGecko.

“The post-halving rally may have begun,” said cryptocurrency trader Peter Brandt, who has 745,000 followers on x. “The series of lower highs and lower lows since March has come to an end.”

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”8.4615384615385″>

bitcoin twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btc

The 5-Month Inverted Expanding Triangle Has Already Completed
Follow-up will be important
Post-halving advance may have begun
Series of lowest highs and lowest lows since March has come to an end pic.twitter.com/lth9fLv0yt

—Peter Brandt (@PeterLBrandt) twitter.com/PeterLBrandt/status/1851092865188769796?ref_src=twsrc%5Etfw”>October 29, 2024

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