Bitcoin has risen 1.75% in the past 24 hours to $123,250 at the time of writing, driven by continued spot ETF inflows, gold’s rise to new records, and softening of Federal Reserve interest rate guidance.
The US Bitcoin Spot ETF added $2.1 billion in net inflows from October 6 to October 7, according to Pharcyde Investors. This movement resulted in seven consecutive sessions of positive trend as of October 7th.
The fund absorbed $875.6 million on October 7 alone, even as Bitcoin experienced a 2.4% correction and briefly lost the $121,000 level before the market recovered.
Continued demand from the ETF channel has secured a price floor and strengthened institutional investor appetite for exposure through regulated products.
Additionally, the soaring price of gold above $4,000 per ounce has amplified the hard asset narrative that often pushes Bitcoin alongside bullion.
The move supported the theory of “devaluation” in which investors deploy capital to rare assets when concerns about government debt or currency reliability arise. As a result, the movement of gold contributed to the rise of Bitcoin.
The rise in Japanese government bond yields has intermittently kept the dollar’s strength from rising. Still, shared hedge bidding offset that pressure.
The latest Federal Reserve minutes, released on October 8, suggested that further rate cuts in 2025 remain on the table, and real interest rate pressures remain mild, supporting risk appetite.
The softer tone of the document eased concerns about tight financial conditions, giving stocks and cryptocurrencies room to rally.
Lower real yields reduce the opportunity cost of holding non-yielding assets like Bitcoin, making them more attractive to trade compared to cash or short-term bonds.
The broader cryptocurrency market tracked Bitcoin’s rise. Ethereum rose 1.4% to $4,514.72, and XRP rose 1.9% to $2.90. Solana rose 4.2% to $229.52, while Dogecoin rose 5% to $0.2594.
Cardano rose 2.3% to $0.8387, while BNB rose 1% to $1,316.87.
The combination of ETF flows, macro tailwinds, and gold’s record performance has created favorable conditions for Bitcoin to recover from its recent correction.
Bitcoin market data
At the time of press October 9, 2025, 12:20 AM (UTC)Bitcoin ranks first in terms of market capitalization, and the price is above 1.19% Over the past 24 hours. Bitcoin market capitalization is $2.46 trillion The trading volume for 24 hours is $64.86 billion. Learn more about Bitcoin ›
Overview of the virtual currency market
At the time of press October 9, 2025, 12:20 AM (UTC)the value of the entire cryptocurrency market is $4.22 trillion in 24 hour volume $196.65 billion. Bitcoin dominance is currently 58.29%. Learn more about the cryptocurrency market ›
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