Bitcoin Pulls Back After New ATH as $3.2B ETF Inflows Signal October Rally

Data from the London Stock Exchange Group showed that after Bitcoin registered a fresh all-time high on the prior trading day, the token retraced as market participants engaged in profit-taking. In a report, James Madden, Chief Trading Officer at Deus X Pay, attributed the antecedent rally to sustained institutional demand, prevailing macroeconomic tailwinds and seasonal momentum, while inflows into exchange-traded funds reached a notable $3.2 billion for the week ending October 3.

Madden also highlighted macro support stemming from market expectations of further easing by the Federal Reserve and a rising correlation between Bitcoin and gold amid the U.S. government shutdown backdrop. Historical patterns showing strength in October were cited, providing context rather than a forecast for near-term price action.