HONG KONG – Reuters – HONG KONG fell slightly during Asian hours Thursday. This was a day that marked a new high in optimism after the U.S. launch of its first bitcoin futures ETF.

Last Wednesday’s record-breaking $67,016 was reached by the largest cryptocurrency in the world. It is now at $65,184, which is 1.3% lower than April’s peak of $64,895.

Matt Dibb (COO) of Stack Funds, a Singapore-based investment firm, said that “we think it will go higher” and they can reach 80 to 90,000. However, volatility is a possibility.

He stated that traders have been starting to charge high interest rates for borrowing bitcoin futures. This could indicate that the market could be overextended and that there may be a pullback.

The author stated that traders will eventually move out of Bitcoin and to major cryptocurrencies such as altcoins.

Ether, second-largest cryptocurrency in the world, rose by 1% to $4203. There were sharper gains for smaller tokens.

According to market players, the most recent wave of bitcoin buying was supported by the U.S. launch of the ETF (exchange-traded fund) that is blockchain-based. Investors believe this will lead to more institutional and retail investors investing in the ETF.

Since September, bitcoin-exchange-traded products and funds have experienced a sharp increase in inflows.

Data from CryptoCompare in London shows that October saw an increase of $121.1 Million per week in bitcoin fund flows, compared to $31.2 million one month prior.

After the steep bitcoin losses in June and May, there were outflows for three months before September.