Bitcoin Approaches All-time High Amid Torrid ETF Inflows

Bitcoin is within a stone’s throw of its all-time high after rallying for a fourth day, fueled by voracious spot ETF demand.

BTC surged 6% to $72,800 in the last 24 hours, pushing the total crypto market capitalization up 4.5% to $2.57 trillion. ETH climbed 7%, while SOL and DOT rallied 5%.

All of the non-stablecoin Top 100 digital assets by market capitalization are up on the day, with the exception of Kaspa (KAS), which dipped 2%.

Layer 1 blockchain Sui and Base memecoin Popcat are up 25%, making them today’s top gainers. Dogecoin and Dogfwifhat (WIF) follow closely with 17% gains.

Spot Bitcoin ETFs pulled in $479 million on Monday, pushing inflows over the last three trading days above $1 billion. Traders continue to place bullish bets ahead of next week’s U.S. presidential election.

According to Coinglass, open interest in Bitcoin futures has surged by over $3 billion in the last three days and sits at an all-time high of $44.3 billion.

Meanwhile, U.S. stocks rallied for a second day. The S&P 500 climbed 0.2%, while the tech-heavy Nasdaq gained 0.9%.