{"id":3613,"date":"2024-12-02T22:46:37","date_gmt":"2024-12-02T22:46:37","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=3613"},"modified":"2024-12-02T22:46:37","modified_gmt":"2024-12-02T22:46:37","slug":"bitcoin-and-ether-etfs-set-record-7-6-billion-inflows-amid-trumps-crypto-push","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=3613","title":{"rendered":"Bitcoin And Ether ETFs Set Record $7.6 Billion Inflows Amid Trump\u2019s Crypto Push"},"content":{"rendered":"
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Analysts said that two of the biggest cryptocurrencies in the world are riding on the waves of positive sentiments as the exchange-traded funds<\/a> of Bitcoin and Ethereum reached record highs.<\/p>\n

The pro-cryptocurrency stance of US President-elect Donald Trump continues to fuel the positive outlook, propelling BTC and ETH<\/a> to attain unprecedented levels.<\/p>\n

Bitcoin Hits $6.5 Billion In Net Inflows<\/h2>\n

Analysts showed that as of November, the firstborn cryptocurrency\u2019s exchange-traded funds (EFT) recorded an all-time high of $6.5 billion in net inflows<\/a>, a significant milestone attributed to the incoming Trump administration.<\/p>\n

Many market commentators are predicting that Bitcoin could soon hit a record high of over $100,000 per coin; even American author Robert Kiyosaki posted on his X account that BTC would settle at around $250,000 in 2025.<\/a><\/p>\n

Analysts mentioned that since the start of 2024, BTC\u2019s price has already doubled, and they observed that the crypto went up by 45% after the US presidential election, noting that investors\u2019 optimism on cryptocurrencies can be attributed to Trump\u2019s promise to make regulations more friendly to digital assets.<\/p>\n

As of press time, Bitcoin has been traded at $95,721,<\/a> down by 1.8% in the last 24 hours and with a total market capitalization of $1.9 trillion.<\/p>\n

BTC is moving even closer to the $100,000 mark but continues to struggle to pass this resistance level.<\/p>\n

<\/p>\n

ETH Outperforms BTC<\/h2>\n

Crypto analysts commented that since Trump\u2019s election, Ethereum has outmatched Bitcoin as the leading altcoin has reached new heights, riding on the overall optimism in the cryptocurrency sector.<\/p>\n

Reports illustrated that the Ethereum ETFs hit an all-time high of $1.1 billion in net inflows, saying that ETH is keeping up with the Bitcoin surge.<\/p>\n

\"\"<\/p>\n

Analysts noted that a net inflow of $333 million was recorded from nine Ether EFTs on November 29, adding that BlackRock led the charge wherein its ETHA had a total inflow of $2.1 billion.<\/p>\n

In the last week of November, SosoValue revealed that Ether ETFs garnered more than $466 million while having an outflow of $71.60 million in the prior week. Moreover, its price also increased by 48% in the last seven days.<\/p>\n

According to CoinGecko, the largest altcoin is being traded at $3,619 with a total market capitalization of more than $435 billion.<\/p>\n

\"\"<\/p>\n

Declining Inventory<\/p>\n

In a post, digital asset analyst Markus Thielen suggested that Bitcoin\u2019s supply might be drying up, noting that there is a dwindling Bitcoin balance on cryptocurrency exchanges.<\/p>\n

\u201cUnlike late summer, when a sudden large inflow temporarily replenished exchange balances, this time, no additional inventory is appearing,\u201d Thielen said on LinkedIn.<\/p>\n

The analyst said that Bitfinex, Binance, and Coinbase are the only crypto exchanges with sufficient Bitcoin in their inventories.<\/p>\n

Some reports suggested that the latest inflows into BTC are significant, and a bearish outlook might be premature.<\/p>\n

However, he noted that the crypto\u2019s market capitalization is growing but its dominance waning down by 60% to 56%. Could this indicate that the altcoin season has arrived?<\/p>\n

Featured image from DALL-E, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Analysts said that two of the biggest cryptocurrencies in the world are riding on the waves of positive sentiments as the exchange-traded funds of Bitcoin and Ethereum reached record highs. The pro-cryptocurrency stance of US President-elect Donald Trump continues to fuel the positive outlook, propelling BTC and ETH to attain unprecedented levels. Bitcoin Hits $6.5 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-3613","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3613","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3613"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3613\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}