{"id":24033,"date":"2024-12-02T22:54:14","date_gmt":"2024-12-02T22:54:14","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/?p=24033"},"modified":"2024-12-02T22:54:14","modified_gmt":"2024-12-02T22:54:14","slug":"historic-7-6-billion-inflows-for-bitcoin-and-ether-etfs-amid-trumps-cryptocurrency-advocacy","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/historic-7-6-billion-inflows-for-bitcoin-and-ether-etfs-amid-trumps-cryptocurrency-advocacy\/","title":{"rendered":"Historic $7.6 Billion Inflows for Bitcoin and Ether ETFs Amid Trump\u2019s Cryptocurrency Advocacy"},"content":{"rendered":"\n

Market analysts report that two of the leading cryptocurrencies, Bitcoin and Ethereum, are benefiting from favorable market sentiments as their exchange-traded funds (ETFs) achieve record levels.<\/p>\n

The positive outlook is further bolstered by the pro-cryptocurrency policies of US President-elect Donald Trump, which have helped propel BTC and ETH<\/a> to new heights.<\/p>\n

<\/span>Bitcoin Achieves $6.5 Billion in Net Inflows<\/span><\/h2>\n

Data indicates that by November, Bitcoin’s ETFs saw net inflows reaching an impressive $6.5 billion<\/a>, a significant achievement linked to the anticipated Trump administration.<\/p>\n

Many are speculating that Bitcoin could surpass a historic price of $100,000 per coin; notable author Robert Kiyosaki recently suggested on his X account that Bitcoin could settle at around $250,000 by 2025.<\/p>\n

Notably, since the beginning of 2024, BTC\u2019s price has already doubled. Following the US presidential election, it increased by 45%, reflecting investors’ optimism stemming from Trump’s commitments to more favorable regulations for digital assets.<\/p>\n

Currently, Bitcoin is being traded at $95,721,<\/a> reflecting a 1.8% decrease over the past 24 hours, with a market capitalization of $1.9 trillion.<\/p>\n

Though BTC is nearing the $100,000 threshold, it continues to face challenges in breaking through this key resistance level.<\/p>\n

<\/p>\n

<\/span>Ethereum Surpasses Bitcoin<\/span><\/h2>\n

Following Trump’s election, analysts have noted that Ethereum has been outpacing Bitcoin, with the leading altcoin achieving significant growth alongside a general upswing in the cryptocurrency market.<\/p>\n

Reports indicate that Ethereum ETFs established a record with net inflows of $1.1 billion, demonstrating ETH’s ability to keep pace with Bitcoin’s upward trend.<\/p>\n

\"\"<\/p>\n

On November 29, Ether EFTs drew a net inflow of $333 million, led predominantly by BlackRock\u2019s ETHA, which attracted $2.1 billion. In the last week of November, SosoValue reported that Ether ETFs received over $466 million despite experiencing an outflow of $71.60 million the previous week. Ether\u2019s value also surged by 48% within that week.<\/p>\n

As per CoinGecko, the top altcoin is trading at $3,619, boasting a market capitalization exceeding $435 billion.<\/p>\n

\"\"<\/p>\n

Declining Inventory<\/p>\n

Digital asset analyst Markus Thielen indicates that Bitcoin\u2019s supply may be diminishing, highlighting a decrease in Bitcoin reserves across various exchanges.<\/p>\n

Thielen noted on LinkedIn that unlike the late summer period, which saw a temporary influx of Bitcoin, this time, exchange inventories are not being replenished.<\/p>\n

Currently, only a few exchanges, including Bitfinex, Binance, and Coinbase, have adequate Bitcoin supplies.<\/p>\n

Despite the significant inflows to BTC, some reports suggest that it may be premature to adopt a bearish mindset.<\/p>\n

However, he pointed out that while the crypto market capitalization is on the rise, Bitcoin’s dominance has declined from 60% to 56%. This raises the question of whether an altcoin season is on the horizon.<\/p>\n

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

Market analysts report that two of the leading cryptocurrencies, Bitcoin and Ethereum, are benefiting from favorable market sentiments as their exchange-traded funds (ETFs) achieve record levels. The positive outlook is further bolstered by the pro-cryptocurrency policies of US President-elect Donald Trump, which have helped propel BTC and ETH to new heights. Bitcoin Achieves $6.5 Billion […]<\/p>\n","protected":false},"author":14,"featured_media":24034,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Historic $7.6 Billion Inflows for Bitcoin and Ether ETFs Amid Trump\u2019s Cryptocurrency Advocacy - Bitrabo","description":"Market analysts report that two of the leading cryptocurrencies, Bitcoin and Ethereum, are benefiting from favorable market sentiments as their exchange-traded"},"footnotes":""},"categories":[316],"tags":[580,448,504,2223,2532,1477,1714,1384,1006,4333],"class_list":["post-24033","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-billion","tag-bitcoin","tag-crypto","tag-etfs","tag-ether","tag-inflows","tag-push","tag-record","tag-set","tag-trumps"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/24033","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=24033"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/24033\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/24034"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=24033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=24033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=24033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}