Uptober: BTC, ETFs, and ATHs

Oct 21, 2021 • 9 Min Read

Key Takeaways

  • Bitcoin eclipses prior all-time high and tests $67,000, completing the comeback from a 55% drawdown April through July. 
  • ProShare’s Bitcoin Strategy ETF ($BITO) was a huge success, garnering $570 million in asset inflows in its debut, and breaking the record for the fastest ETF to achieve $1 billion in assets on just its second day of trading.
Open interest and funding rates increase, but the current Bitcoin leverage ratio and put/call ratio point toward a more sustainable market structure when compared with the last bull run.Positive long-term holder trends continue to support t...

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