Bitcoin retreats after hitting record high due to profit-taking_Amazon Finance

Bitcoin retreats after hitting record high due to profit-taking

2025-10-07 16:57:01 Primitive Reading

　data from the London Stock Exchange Group shows that after Bitcoin hit a historical high in the previous trading day, there was a decline due to profit-taking by traders. James Madden, Director of Trading at Deus X Pay, stated in a report that the previous rise in Bitcoin was driven by institutional demand, macroeconomic positives, and seasonal momentum. In the week ending October 3, the inflow of funds into Bitcoin spot exchange-traded funds reached $3.2 billion. He further pointed out that macroeconomic support factors include market expectations that the Federal Reserve will further cut interest rates; and against the backdrop of the U.S. government shutdown, the correlation between Bitcoin and gold prices is increasing. In addition, historical data shows that Bitcoin often shows an upward trend in October.

Disclaimer: This specification is preliminary and is subject to change at any time without notice. Amazon Finance assumes no responsibility for any errors contained herein.

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