Blockchain data firm Arkham Intelligence has reported that American funds added approximately $250 million worth of Bitcoin on Monday, the largest amount added in a single day in over a month. This surge in demand led to the price of Bitcoin rising to over $61,000 per coin, the highest it has been in September. The increase in demand for Bitcoin ETFs is likely due to expectations of a significant rate cut by the Federal Reserve. Analysts believe that a 50-basis point cut would lead to a higher risk appetite among investors, prompting them to invest in Bitcoin. CoinShares data also revealed that $436 million entered crypto investment funds last week, with most of it going to Bitcoin ETFs. The expected rate cut announcement by the Federal Reserve could further boost the price of Bitcoin.



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