Ethereum

Bitcoin ETF

Bitcoin

<p>Bitcoin has had a thrilling week, skyrocketing from $67,849 to a new all-time high (ATH) of $77,230, driven by excitement surrounding the <a href="https://coinpedia.org/news/2024-us-elections-result-donald-trump-officially-elected-president/" target="_blank" rel="noreferrer noopener">U.S. presidential election</a>.</p>   
<p>With pro-crypto candidate Donald Trump winning, the market has seen a wave of activity, sparking renewed institutional interest in Bitcoin and Ethereum. But what’s behind this sudden surge, and how are crypto ETFs reacting to the election drama?</p>   
<p>The story doesn’t end with price highs—there’s a deeper shift happening in the market. Keep reading to know more. </p>   
<h2 class="wp-block-heading" id="h-bitcoin-etfs-see-record-inflows-amp-outflows">Bitcoin ETFs See Record Inflows &amp; Outflows </h2>   
<p>Bitcoin ETFs have seen some of the highest trading activity in recent history. On November 4, as the election created uncertainty, Bitcoin ETFs faced the second-largest outflow ever, with $541 million being pulled. But just two days later, after Trump’s lead, Bitcoin ETFs saw a major inflow of $621.9 million, reflecting growing investor confidence.</p>   
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<p>The surge continued on November 7, when Bitcoin ETFs saw their largest-ever inflow of <a href="https://farside.co.uk/btc/" target="_blank" rel="noreferrer noopener nofollow">$1.378 billion</a>. This marked a strong rebound in market sentiment.</p>   
<p><strong>BlackRock Boosts Investor Sentiment </strong></p>   
<p>A big reason for this boost was BlackRock, one of the world’s largest investment firms. On November 7, <a href="https://coinpedia.org/news/bitcoin-etf-inflows-surge-blackrocks-massive-1-1b-mark/" target="_blank" rel="noreferrer noopener">BlackRock’s Bitcoin ETF</a> (IBIT) added 16,254 BTC (worth about $1.25 billion) to its holdings. This pushed BlackRock’s total Bitcoin holdings to 449,967 BTC, worth $34.4 billion—more than the value of all the gold in the world.</p>   
<p>This move has only strengthened investor confidence in Bitcoin as a digital asset.</p>   
<h2 class="wp-block-heading" id="h-ethereum-etfs-follow-the-trend">Ethereum ETFs Follow the Trend </h2>   
<p>While Ethereum didn’t even stand back when BTC was surging. Similarly on 4th Nov ETH recorded the 7th largest <a href="https://farside.co.uk/eth/" target="_blank" rel="noreferrer noopener nofollow">outflow of $63.2 million</a>. However, by November 7 and 8, Ethereum ETFs saw significant inflows, marking the third- and fourth-largest inflows in their history.</p>   
<p>On November 7, Ethereum ETFs experienced an inflow of $79.7 million, followed by an even bigger surge the next day, with $85.9 million flowing in.</p>   
<p>Leading the charge was BlackRock’s spot Ether ETF, which saw its highest daily inflow in 94 days, with $60.3 million flowing in.</p>   [post_titles_links postid="377777"]   
<h2 class="wp-block-heading" id="h-ethereum-s-price-tests-key-resistance-levels">Ethereum’s Price Tests Key Resistance Levels</h2>   
<p>Ethereum is currently trading at around $3,031, up 21% in the past week, with a market cap of $365 billion. The price is testing the 100-day <a href="https://coinpedia.org/traders/what-is-moving-average-indicator/" target="_blank" rel="noreferrer noopener">Simple Moving Average</a> (SMA) around the $3,000 level. If Ethereum breaks above this level, it could push toward the next resistance at $3,366, bringing it closer to the $4,000 mark.</p>   
<p><strong>Good times are ahead for cryptocurrency! We're excited - and hope you are too! </strong></p>

Bitcoin & Ethereum ETFs See Record Inflows Post Elections; BlackRock Leads

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