Bitcoin Price Surges Amid Softer Inflation Read and Upgraded Institutional Targets
The price of Bitcoin (BTCUSD) has risen by 1.29% to $84,726.55 as of October 1st at 13:20 ET.
This increase is attributed to a combination of upgraded institutional price targets and sustained spot exchange-traded fund liquidity.
Citigroup has raised its twelve-month price target for Bitcoin, while other financial institutions have upwardly revised projected net inflows into spot ETFs.
The softer inflation read has eased fears of prolonged aggressive monetary tightening, stabilizing liquidity expectations across broader risk assets.