Bitcoin Set for Largest Weekly Gain Since 2024, ETFs See $2.68B Inflows
Bitcoin (BTC) is experiencing a significant rally, currently positioned around $95,000, marking a 1.8% increase over the past 24 hours and an 11% rise since Monday. Ethereum’s ether (ETH) also gained 2%, surpassing $1,800. Other cryptocurrencies like Sui (SUI), Bitcoin Cash (BCH), and Hedera (HBAR) contributed to gains in the CoinDesk 20 Index.
Key points include:
- This week’s performance is the strongest since November 2024.
- U.S.-listed spot bitcoin ETFs recorded $2.68 billion in net inflows this week, the highest since December.
- Bitcoin is decoupling from traditional macro assets, indicating its growing role as a store-of-value asset.
- Liquidity in the BTC market has decreased significantly, leading to potential volatility.
- Analysts predict a continued uptrend for Bitcoin, with expectations of reaching $133,000-$136,000 by late 2025 or early 2026.
David Duong from Coinbase notes the unusual market dynamics and increasing institutional interest in Bitcoin. John Glover from Ledn suggests we are in the early stages of a bullish trend, supported by Elliott Wave theory.
