3 Reasons Bitcoin Has Made A New All-Time High

Benzinga · Oct 8 01:42

Bitcoin's (CRYPTO: BTC) run to new highs is powered by a synchronized wave of inflows and activity across ETFs, spot markets, and derivatives.

What Happened:Glassnode data shows Bitcoin's ascent is supported by three key pillars:

ETF & Institutional Flows:Cumulative inflows into U.S. spot Bitcoin ETFs hit $2.2 billion, while daily trading volumes exceeded $26 billion, a sharp reversal from September's outflows and a clear sign of institutional demand returning.
On-Chain Strength: Network activity has surged, with transfer volumes up 39% and active addresses climbing 11%, reflecting organic usage growth. Nearly 97% of all Bitcoin supply is now in profit...

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