Bitcoin Nears $100K and ETFs Sees Record $3.38B Weekly Inflows

The week of November 18–22, 2024, marked a historic moment for cryptocurrency markets. Bitcoin’s price surged past $99,000 on Friday morning, nearing the highly anticipated $100,000 milestone. However, short-term resistance kept it just below this critical level.

The record-breaking price movement coincided with unprecedented activity in Bitcoin spot ETFs and a new all-time high for the cryptocurrency market cap at $3.4 trillion. These developments underscore growing institutional interest, fueled by U.S. spot Bitcoin ETF inflows and bullish options activity.

Bitcoin ETFs Drive Weekly Inflows

Bitcoin ETFs played a major role in the market’s record-breaking week. Bitcoin ETFs saw their largest-ever weekly inflow, with a staggering $3.38 billion added. In contrast, Ethereum ETFs experienced a $68.5 million net outflow.

This sharp divergence signals a split in investor sentiment between the two leading cryptocurrencies. Institutional interest in Bitcoin ETFs continues to grow, while enthusiasm for Ethereum-based products appears to be waning.

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