Odaily Planet Daily News QCP pointed out that Bitcoin broke through the range and rose to $86,913, the highest since September 23, an increase of 14.6% from the low on September 15. During the same period, the 30-year U.S. bond yield hit 5.62%, and the 10-year yield once rose to 5.29%; real interest rates rose by 44 basis points in September, and the break-even inflation rate barely changed. Gold fell 8.5% and Bitcoin gained 12%. QCP believes the rally has been driven by concentrated flows, with spot ETFs seeing $3.5 billion and $2.6 billion in inflows in August and September respectively.
Fund flows drive Bitcoin higher, price rises to highest since September 23
Related news
The Sleeper Has Awakened: Pepenardo’s Sleeping Knights Return
Bitcoin Magazine The Sleeper Has Awakened: Pepenardo’s Sleeping Knights Return Hand-altered magazine covers, one-of-one trading cards, and the evolving culture of bitcoin collectib...
China Moves to Confiscate $5 Billion in Bitcoin From Fraudster Who Fled to UK: Report
Bitcoin Magazine China Moves to Confiscate $5 Billion in Bitcoin From Fraudster Who Fled to UK: Report The alleged fraudster tried to run away with nearly 62,000 bitcoins.
Utexo Opens Utexo Mint Early Access for USDT on Bitcoin Ahead of November 28 Launch
Bitcoin Magazine Utexo Opens Utexo Mint Early Access for USDT on Bitcoin Ahead of November 28 Launch Utexo has opened Utexo Mint, letting verified professional operators test minti...
Bitcoin Slides Towards $81,000 as Oil Above $110 Revives Rate-Hike Bets
Bitcoin Magazine Bitcoin Slides Towards $81,000 as Oil Above $110 Revives Rate-Hike Bets Bitcoin is currently in so-called Uptober, a month when the asset is supposed to rally. But...
Robinhood Wins Dubai License to Bring Bitcoin and Stock Trading to the Middle East in 2027
Bitcoin Magazine Robinhood Wins Dubai License to Bring Bitcoin and Stock Trading to the Middle East in 2027 Robinhood has won DFSA approval to offer bitcoin, crypto and stock tradi...