Crypto investment products saw a whopping $2.3 billion the in net inflows last week, pushhing BTC to near March's ATH. Will the trend extend?
dataThe impact of the massive inflows was also evident on the price charts, as the world’s largest digital asset rallied nearly 10%, rising from $62.4K to over $69K.“We believe this renewed optimism stems from growing expectations of a Republican victory in the upcoming US elections, as they are generally viewed as more supportive of digital assets. This, in turn, has led to positive price momentum.
“If Trump’s dominance continues and the Fed signals a more dovish stance, we could see renewed momentum for Bitcoin in the weeks following these events.” That said, strong demand from US spot BTC ETFs also pushed the products to a new high in net assets held. It crossed $66.1 billion in total net assets under management .With only about two weeks to the US elections, will the bullish streak in the crypto markets continue?
“Markets are bracing for a volatile #Election: While #BTC skews towards bullish calls despite trading 8% below its peak, the S&P 500 hedges with put protection ahead of a potential 1.8% post-election swing.” It meant that crypto investors were optimistic about upside potential while the US stock market feared pullback .Benjamin is a Telecommunication Engineering graduate who is passionate about crypto-markets and unraveling market trends. Armed with charts and patterns, he's interested in making the intricate, complex landscape of digital assets more palatable for every user.Subscribe to get it daily in your inbox.
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