This week is one of the most important weeks for the cryptocurrency market in 2024. With Trump's victory in the US presidential election, the price of Bitcoin broke through $77,000 to set a new historical high, and Ethereum also rose nearly 20% to approach $3,000. The total market value of the entire cryptocurrency market increased to $2.58 trillion, just one step away from the historical high of $2.86 trillion.
The inflow of funds into the U.S. cryptocurrency spot ETF this week is also closely related to the U.S. election. On voting day and the day before, funds continued to flow out, and after it was confirmed that Trump would be able to move into the White House, a large amount of funds flowed in crazily. On November 7 alone, $1.46 billion flowed into the U.S. cryptocurrency spot ETF.
According to iChainfo Search , the total inflow of US Bitcoin spot ETFs this week was $1.63 billion, which was the fifth consecutive week of positive net inflows. The total inflow on November 7 was $1.38 billion, the largest single-day net inflow to date.
According to iChainfo Search monitoring, the total inflow of US Ethereum spot ETF this week was US$154 million, the first time that net inflows were positive for two consecutive weeks, and this week was also the first time that net inflows exceeded US$50 million for three consecutive days.
By Auguste
