BlockBeats News, October 7th, data from the London Stock Exchange Group showed that after Bitcoin hit a new all-time high on the previous trading day, it fell back as traders took profits. James Madden, Chief Trading Officer of Deus X Pay, stated in a report that the previous rise in Bitcoin was driven by institutional demand, macroeconomic tailwinds, and seasonal momentum. In the week ending October 3rd, the inflow of funds into Bitcoin exchange-traded funds reached $3.2 billion.He further pointed out that macroeconomic support factors include market expectations of further rate cuts by the Federal Reserve and the increasing correlation between Bitcoin and gold prices against the backdrop of the U.S. government shutdown. Additionally, historical data shows that Bitcoin often exhibits an upward trend in October. (Golden Ten)