Why is Bitcoin recovering? Everything that happened in crypto today
Bitcoin climbed 1.75% over the past 24 hours to $123,250 as of press time, driven by sustained spot ETF inflows, gold’s rally to fresh records, and softer Federal Reserve rate guidance.
US spot Bitcoin ETFs added $2.1 billion in net inflows between Oct. 6 and Oct. 7, according to Farside Investors. The movement extended a seven-session streak of positive flows as of Oct. 7.
The funds absorbed $875.6 million on Oct. 7 alone despite Bitcoin experiencing a 2.4% correction and briefly losing the $121,000 level before the market rebounded.
The continued demand from ETF channels provided a floor under the price and reinforced institutional appetite for exposure through regulated instruments.
Additionally, gold’s surge above $4,000 per ounce…
