Fund flows drive Bitcoin higher, price rises to highest since September 23

Odaily Planet Daily News QCP pointed out that Bitcoin broke through the range and rose to $86,913, the highest since September 23, an increase of 14.6% from the low on September 15. During the same period, the 30-year U.S. bond yield hit 5.62%, and the 10-year yield once rose to 5.29%; real interest rates rose by 44 basis points in September, and the break-even inflation rate barely changed. Gold fell 8.5% and Bitcoin gained 12%. QCP believes the rally has been driven by concentrated flows, with spot ETFs seeing $3.5 billion and $2.6 billion in inflows in August and September respectively.