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This week, the Cryptocurrency market experienced one of the biggest rallies in its history. The reason for this is that the price of BTC reached the milestone of $100K dollars per coin. In that context, Bitcoin spot exchange-traded funds (ETFs) saw positive flows of $2.5 billion.
This is a hugely positive development, as it demonstrates the enormous confidence of Wall Street wallets in the future of BTC. This enthusiasm for the token was also reflected in the Altcoin market. In fact, the push of the vast majority of tokens caused the arrival of an altcoin season.
In any case, as shown by Trading Different data, in all days of the week there were positive flows towards BTC products. The day with the highest entry was Thursday, December 5, with the flow of $671.30 million dollars. On that day, BlackRock’s ETF, IBIT, received capital of $770.5 million, while Grayscale’s GBTC had withdrawals of around $178 million.
Thus, while the bulk of Bitcoin spot ETFs accounted for $2,565.4 million, IBIT received $2,630.8. The fact that this product has more revenue than the sector combined is due to the fact that GBTC had constant exits.
Bitcoin spot ETFs saw positive inflows throughout the week. Source: Trading Different
Will the strong movement in Bitcoin ETFs continue?
In the next weekly session, the strong flow of institutional capital into BTC ETFs could continue at a similar pace. This is due to the great expectations in the market a few weeks before Donald Trump’s inauguration. The tycoon is now the main catalyst for traders when opening operations.
In that sense, it is expected that investors will remain optimistic in the coming days. To this must be added the psychological component of the last month of the year, in which the traditional Santa Claus rally takes place. Thus, from any point of view everything looks positive for BTC in the coming days.
This is also equivalent among alternative digital currencies and even memecoins, which do not seem to be going through the best of times. On the other hand, shares of other companies related to the cryptocurrency market on the stock exchange also showed positive performance.
In the case of Bitcoin Mining firms, MARA recorded a Friday close of +6.62% despite the overall week being negative at -3%.
Meanwhile, the popular MicroStrategy closed the last 5 days of trading on the stock market with green numbers, with +1.95%. The shares of this company are priced at $394 per unit.
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