With many traders and investors eagerly waiting for their beloved “Uptober” – October did not disappoint! Bitcoin currently showing a 14% gain for the month taking us back into the green. A good start to Q4 2024! This was supported in large by the strong inflows into the Bitcoin ETFs, and it’s no surprise that the biggest flows are going to none other than BlackRock’s $IBIT ETF. They took in $3.2B new capital into their ETF while the total value of the Bitcoin ETF market now sits at a very bullish $72 Billion.
When we look at the Total Market Cap charts, the monthly chart for $TOTAL has printed another bullish candle pointing to a breakout in market cap with eyes on $3T as this bull market looks set to continue. $TOTAL2 and $TOTAL3 are still lagging slightly as the Bitcoin dominance (BTC-D) is still very high at around 60% of the total market cap.