Bitcoin ETFs kick off `Uptober` with second-best week ever
According to SoSoValue, Bitcoin ETFs recorded $3.24 billion in net positive inflows over the past week, just shy of the record $3.38 billion set during the week ending November 22, 2024.
This marks a sharp rebound from the $902 million outflow of the previous week. Analysts attribute the turnaround to rising expectations of another U.S. interest rate cut, improving sentiment toward risk assets.
Sustained ETF inflows could provide significant support for Bitcoin in October, historically its second-best month for average returns, often dubbed “Uptober” by crypto investors.
“At the current pace, more than 100,000 BTC could be withdrawn from circulation in Q4 — more than double the amount of new issuance,” said Nexo distribution analyst Ilya Kalchev.
Bitcoin daily chart from March to October 2025. Source: TradingView
The $3.2 billion collected this week briefly pushed Bitcoin’s price above $123,996 on Friday, marking a six-week high and just 0.4% below its all-time high reached on August 14.
“A breakout above $120,000 could trigger a very fast rally toward $150,000 before the end of 2025,” Charles Edwards, founder of Capriole Investments, told Cointelegraph during Token2049 in Singapore.
However, Bitcoin’s trajectory will depend on several key events next week, including Federal Reserve Chair Jerome Powell’s upcoming speech and the release of the Federal Open Market Committee (FOMC) meeting minutes. Investors are also awaiting the delayed U.S. jobs report, with its release date dependent on the duration of the ongoing government shutdown.
As we wrote, Weekly forecast: Bitcoin consolidates near $122K
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