tl;dr
The exchange-traded funds of Bitcoin and Ethereum have reached record highs, driven by positive sentiments and the pro-cryptocurrency stance of US President-elect Donald Trump. Bitcoin's ETFs recorded an all-time high of $6.5 billion in net inflows, with predictions of reaching over $100,000 per coi...
Bitcoin and Ethereum ETFs have surged to record highs, fueled by positive sentiments and the pro-crypto stance of US President-elect Donald Trump. Bitcoin's ETFs have achieved an all-time high of $6.5 billion in net inflows, and market commentators predict the potential for Bitcoin to surpass $100,000 per coin, bolstered by Trump's commitment to crypto-friendly regulations.
Ethereum has outperformed Bitcoin, reaching new heights and hitting an all-time high of $1.1 billion in net inflows for ETFs, with BlackRock leading the charge. Additionally, reports indicate a declining balance of Bitcoin on exchanges, hinting at a potential shift towards an altcoin season as Bitcoin's dominance diminishes.
Analysts emphasize that the positive outlook for the ETFs of Bitcoin and Ethereum is driven by the pro-cryptocurrency stance of President-elect Donald Trump, pushing BTC and ETH to unprecedented levels.
Bitcoin has seen a significant milestone with an all-time high of $6.5 billion in net inflows, attributed to the incoming Trump administration. Many market commentators predict Bitcoin could reach over $100,000 per coin, with some forecasting a settlement at $250,000 by 2025.
Ethereum has outshone Bitcoin since Trump's election, with its ETFs hitting an all-time high of $1.1 billion in net inflows. Reports suggest that ETH is keeping pace with Bitcoin's surge, with BlackRock leading the charge in this trend.
Analysts have noted a dwindling Bitcoin balance on cryptocurrency exchanges, indicating potential implications for an altcoin season as Bitcoin's dominance decreases.