After reaching a historic high, Bitcoin fell back due to profit-taking, with inflows amounting to 3.2 billion dollars

ChainCatcher news, according to Jinshi reports, Bitcoin fell back after reaching an all-time high in the previous trading day due to traders taking profits. In the week ending October 3, the inflow of funds into Bitcoin spot exchange-traded funds reached $3.2 billion. Deus X Pay's trading director James Madden stated that the rise in Bitcoin is driven by institutional demand, favorable macroeconomic conditions, and seasonal momentum, with market expectations that the U.S. Federal Reserve will further cut interest rates.