Bitcoin price: Extending the series of increasing days
Early this morning (October 28), Bitcoin - the world's largest cryptocurrency by market value - continued to increase by 0.79% to 114,726.04 USD.
This new price contributes to bringing market capitalization to 2,287 billion USD, an increase of 48 billion USD. In the same direction, trading volume in the 24-hour reversal increased, currently at 58.48 billion USD, down 34.14 billion USD.
Assessment and forecast
According to CoinShares' Weekly Digital Asset Fund Capital Flow Report, digital asset investment products attracted $921 million in capital flows last week, as expectations of the US Federal Reserve's next interest rate cuts help improve investor sentiment in the cryptocurrency market.
After several weeks of strong fluctuations, the latest data shows that capital flows into digital funds have recovered strongly, supported by the US consumer price index (CPI) lower than expected. These indicators have reinforced expectations that the Fed will continue to ease monetary policy.
The trading volume of global ETP products (portgage-backed exchange-traded funds) remains at a high level of 39 billion USD, far exceeding the average of 28 billion USD since the beginning of the year, showing the sustainable participation of investment institutions, despite the macro uncertainties caused by the US government's partial closure and a shortage of economic data.
Bitcoin (BTC) continues to be the dominant asset, with $931 million in capital flow, accounting for the majority of total market activity.
Since the Fed started cutting interest rates, the total accumulated capital flow into Bitcoin has reached 9.4 billion USD, while the capital flow from the beginning of 2025 to now is 30.2 billion USD, still lower than the 41.6 billion USD in 2024.
