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US Bitcoin and Ethereum ETFs are experiencing unprecedented inflows, with Bitcoin products recording an 11-day streak and attracting $4.89 billion since November 26. BlackRock's iShares Bitcoin Trust led the charge, acquiring 4,295 BTC worth $431.6 million.Ethereum ETFs have outpaced Bitcoin with a 14-day inflow streak, totaling $2.22 billion. BlackRock also dominates this space, pulling in $202 million yesterday, while Grayscale's Ethereum Trust faced outflows. Currently, Bitcoin trades at $100,067 and Ethereum at $3,887.
Spot bitcoin ETFs saw over $4 billion in inflows from December 2 to December 12, driven by strong demand as Bitcoin surpassed $100,000 on December 5. Major contributors included BlackRock and Fidelity, with consistent inflows exceeding $100 million and no outflows reported. The total inflow reached $4.4 billion during this period, reflecting robust market interest.
Solana (SOL) has seen a 14% increase recently but faces resistance at $235, a critical level for breaking its downtrend. A decisive move above this could target $248 or $264, while liquidity at $244-$245 may trigger a breakout. However, muted demand suggests potential price rejections could lead SOL back to around $220 before another attempt to break out. Long-term predictions remain bullish, with a target of $750 by 2025.
The SEC is seeking industry feedback on NYSE Arca's request to list the Bitwise Bitcoin and Ethereum ETF, which aims to provide balanced exposure to the two largest cryptocurrencies. This move comes amid increasing competition in cryptocurrency index funds, with other proposals from Grayscale and asset managers like Hashdex and Franklin Templeton. As regulatory dynamics shift with the upcoming leadership change, the approval of such ETFs could enhance accessibility for both retail and institutional investors in the crypto market.
Max Resnick, a former Ethereum expert, has transitioned to the Solana blockchain, aiming to deepen his understanding of its technology and enhance collaboration within the ecosystem. His involvement with Anza, a Solana-focused R&D firm, highlights ongoing network improvements. Meanwhile, Solana's price has surged 5.9% to $225, with predictions ranging from $750 to $4,000, reflecting a mix of optimism and caution in the market.
The SEC is advancing NYSE Arca's request to list a Bitwise Bitcoin and Ethereum ETF, which aims to provide balanced exposure to the two largest cryptocurrencies. This move comes amid increasing competition in the crypto index ETF space, with several asset managers filing similar proposals. As the regulatory landscape shifts with the upcoming presidential term, issuers are eager to launch a variety of crypto funds.
Ethereum's chances of reaching $5,000 by the end of 2024 have fallen to under 10%, despite significant ETF inflows, including $305 million on December 10. While some traders remain optimistic about a price surge, analysts note that a 37% increase is necessary to hit the target. Institutional interest continues to grow, with Fidelity contributing over $202 million to recent inflows, suggesting a potential supply crisis that could impact prices.
Solana (SOL) has shown resilience, recovering from a low of $203 and maintaining a market cap above $103 billion despite recent corrections. Strong institutional interest is evident with multiple ETF applications, while technical indicators suggest potential consolidation around $220, with significant support between $200 and $205. Current trading activity reflects a balanced market, with SOL priced at $219, indicating a structured range for future price movements.
Bitwise predicts significant price surges for Bitcoin, Ethereum, and Solana by 2025, forecasting Bitcoin to reach $200,000, Ethereum $7,000, and Solana $750. The asset manager anticipates increased inflows from Bitcoin ETFs and a doubling of countries holding Bitcoin, alongside a wave of crypto IPOs in a favorable regulatory climate.
Solana (SOL) has experienced a significant pullback, dropping 23% from its all-time high of $263 and retesting the crucial $200-$210 support zone. Analysts express concern over its short-term performance, with predictions of a potential decline to the $180-$160 range if support fails. However, some view the dip as a buying opportunity, with optimistic forecasts suggesting a possible rally to $750 by 2025.
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