#BTC is fluctuating around $67,000. What’s next?

BlockBeats news, on October 19th, QCP released its weekly summary, stating that this week was an exciting one for Cryptocurrency. BTC pumped by 10.48%, reaching a high of $69,000, with the psychological barrier of $70,000 within reach. There are no major macro data as resistance next week. The inflow of BTC ETF was considerable this week. As of Friday, the inflow of ETF reached $203.3 million and has shown a net inflow trend for 6 consecutive days. The continued inflow of ETF indicates that institutional demand remains strong. With the approval of BTC ETF Options by the US SEC this morning to be listed on the New York Stock Exchange (NYSE), it is believed that this will provide the required Liquidity for the ETF and attract sustainable fund inflows. BTC's market share has reached a multi-year high of 58%, a level not seen since April 2021. As it approaches the critical resistance level of 60%, we believe this will lay the foundation for a strong recovery of Layer 1 (L1) Tokens. With the US stock market approaching historical highs, the yen continues to weaken, and with the US election approaching, risk appetite will only further increase. This will drive the pump of risk assets and support the narrative of "Uptober" Rebound.