ChainCatcher message, Glassnode stated, "As the crypto market grows, the pullback of Bitcoin in the bullish trend is gradually decreasing. The deepest pullback in this cycle was -32% (August 5, 2024), while most pullbacks were around a 25% drop from previous highs, reflecting the increased demand for spot ETFs and rising institutional interest."

ChainCatcher news, according to Cryptonews, BlackRock's Head of Thematic Investing and Active Equity ETFs in the U.S., Jay Jacobs, stated in an interview with Bloomberg ETF analyst Eric Balchunas that the demand for Ethereum ETFs is only showing "the tip of the iceberg," with currently only a small portion of clients holding their Bitcoin (IBIT) and Ethereum (ETHA) ETF products. He added that BlackRock remains focused on bringing new clients to these ETFs rather than launching new ETFs related to other cryptocurrencies.Against the backdrop of the Federal Reserve possibly announcing an interest rate cut this week and market expectations that the Trump administration may establish a Bitcoin strategic reserve in 2025, analysts expect ETH to potentially break the $5,000 historical high by the end of the year. The ETH price broke through $4,100 this morning, reaching a new high for the year, while Bitcoin surpassed $107,000 during the same period. Historically, Ethereum tends to experience a new round of increases 1-2 months after Bitcoin breaks a new high.

ChainCatcher news, Gemini co-founder Cameron Winklevoss stated that Bitcoin reaching $80,000 is primarily driven by sustained institutional demand through spot Bitcoin ETFs, rather than retail investor activity.He believes that this "sticky" demand from institutional investors is a sign of long-term bullish sentiment, and the current market cycle is still in its early stages.Winklevoss said, "The road to Bitcoin reaching $80,000 is paved by stable ETF demand. It's not retail FOMO. There's no fanfare. People are buying ETFs, not selling them. This is sticky HODL-style capital. The floor price keeps rising, we just won the coin toss, and the game hasn't really started yet."

ChainCatcher message, Matrixport released the latest report stating: "Bitcoin has surpassed the $70,000 mark, reaching our year-end target set for early 2024. According to the latest 'Matrix on Target' report, we expect the price of Bitcoin may rise further before the end of the year. The U.S. presidential election could serve as a positive market catalyst, coupled with strong demand from investors for Bitcoin spot ETFs, which will further drive up the price of Bitcoin. As more bullish investors disclose their Bitcoin spot ETF holdings in the upcoming 13F filings, this could inject more momentum into the year-end Bitcoin rebound."

ChainCatcher news, according to a report by Cointelegraph, a new report from Binance states that since the launch of the spot Bitcoin ETF, most of the demand has come from retail investors rather than institutional investors. Binance analysts indicated that as of October 10, non-institutional investors accounted for nearly 80% of the total assets under management (AUM) of the spot BTC ETF.Additionally, since its launch in January, a significant portion of the $63.3 billion in managed assets accumulated by the spot Bitcoin ETF may not necessarily be new investments in the cryptocurrency space.