BTC Tests $64K Mark with Strong ETF Inflows Despite Market Corrections

QCP Capital, in its latest daily report from September 21, noted that cryptocurrencies experienced a resurgence for the third consecutive day. Bitcoin (BTC) tested the $64,000 mark once again, while Ethereum (ETH) climbed back to $2,500. This upward momentum was driven by substantial inflows into BTC and ETH spot ETFs. Over the past 48 hours, BTC ETFs observed a significant net inflow of $250.3 million, and ETH ETFs saw a net inflow of $8.1 million.

With limited major macroeconomic events until this Friday, aside from the anticipated PCE price report, there could be a temporary pause in cryptocurrency price movements as interest rate cut fervor subsides. As of this morning, BTC has dipped below $63,000. Additionally, BTC’s front-end volatility in the options market has decreased by 6 points from its peak yesterday, continuing its decline as the market adapts to ongoing policy normalization.