Bitcoin retook $63,000 as ETF inflows broke a three-session skid

Bitcoin climbed above $63,000 on October 12, 2024, extending a recovery that had begun after the asset tested $60,000 during the October 11 U.S. trading session. Contemporaneous TradingView data cited by Cointelegraph showed BTC/USD approaching $63,500 and up approximately 1.5% at the publication’s observation time.

The advance mattered because it unfolded while conventional securities markets were closed and investors were absorbing newly reported evidence of renewed demand through U.S. spot-bitcoin exchange-traded products. Those funds recorded an estimated $253.6 million of net inflows on October 11, reversing three consecutive sessions of net withdrawals.

The price move and fund flows were related in timing, but the available records do not prove that one caused the other.

A primary record confirms the move above $63,000

North American Derivatives Exchange results provide date-specific observations from the Nadex BTC Index. The exchange recorded an expiration value of 62,671.976 at the report’s labeled 5:20 a.m. interval on October 12. The value reached 63,207.786 at 7:25 a.m. and stood at 63,042.081 at 9:00 a.m.

The rise from the 5:20 value to the 7:25 value was approximately $535.81, or 0.86%, based on Coinburn calculations. These are expiration values used to settle Nadex event contracts, not trades from one spot exchange and not a universal bitcoin price. The results nevertheless independently establish that the regulated exchange’s bitcoin index moved from below $63,000 to above it during the October 12 measurement sequence.

Cointelegraph’s higher observation near $63,500 came from a different data construction and timestamp. Bitcoin trades continuously across separate venues, so neither figure should be presented as an official global close. The defensible conclusion is narrower: bitcoin recovered above $63,000 and reached a multi-day high on October 12.

Fund demand reversed three sessions of withdrawals

Farside Investors’ fund-level table attributed $117.1 million of the October 11 net inflow to Fidelity’s FBTC and $97.6 million to ARK 21Shares’ ARKB. Bitwise’s BITB added $38.8 million, Invesco Galaxy’s BTCO added $7.9 million and VanEck’s HODL added $14.3 million. A $22.1 million outflow from Grayscale’s GBTC reduced the aggregate to $253.6 million; the remaining listed products recorded zero.

The reversal followed estimated net outflows of $18.6 million on October 8, $40.6 million on October 9 and $120.8 million on October 10. Those three entries sum to $180 million in withdrawals. The October 11 inflow therefore exceeded the combined losses from that three-session sequence by $73.6 million, another Coinburn calculation using Farside’s rounded figures.

October 12 was a Saturday, so the exchange-traded products themselves did not generate a new U.S. securities session. The fund figures described October 11 creations and redemptions that were reported and discussed on October 12. Bitcoin’s uninterrupted spot market, by contrast, continued repricing throughout the weekend.

What the combination established

The Securities and Exchange Commission had approved exchange rule changes for 11 spot-bitcoin products on January 10, 2024. The SEC stressed that it had approved their listing and trading, not bitcoin itself. By October, daily fund flows had become an observable—though incomplete—measure of demand through regulated investment wrappers.

October 12 consequently offered two separate signals: bitcoin’s price held the recovery above $63,000, and the latest completed securities session showed renewed net creations across several funds. The evidence did not identify the investors, distinguish institutional from retail purchases, reveal when fund-related bitcoin transactions occurred or establish a durable market trend. It supported only the event-day conclusion that both spot momentum and the regulated fund channel had strengthened after several weak sessions.