{"id":559275,"date":"2023-11-06T09:40:27","date_gmt":"2023-11-06T09:40:27","guid":{"rendered":"https:\/\/wncen.com\/?p=559275"},"modified":"2024-06-11T11:34:56","modified_gmt":"2024-06-11T11:34:56","slug":"bitcoin-and-ethereum-crypto","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-and-ethereum-crypto\/","title":{"rendered":"Bitcoin And Ethereum Rally Not Over: Crypto Capital Inflows Reach One-Year High"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Many had speculated that the <\/span><a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-crosses-35000\/\"><span style=\"font-weight: 400\">rally in the crypto market <\/span><\/a><span style=\"font-weight: 400\">was going to wane following the Spot Bitcoin ETF rumors fading out. That hasn\u2019t been the case, though, and a recent revelation from a <\/span><a href=\"https:\/\/wncen.com\/news\/ethereum\/ethereum-crypto-analyst-1900\/#:~:text=If%20that%20happens%2C%20Ethereum%20could,its%20current%20price%20of%20%241%2C600.\"><span style=\"font-weight: 400\">prominent crypto analyst<\/span><\/a><span style=\"font-weight: 400\"> suggests that the two largest cryptocurrencies by market cap, <\/span><a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-and-ethereum-crypto-rally\/\"><span style=\"font-weight: 400\">Bitcoin and Ethereum<\/span><\/a><span style=\"font-weight: 400\">, could continue to see an upward trend.\u00a0<\/span><\/p>\n<h2>New Liquidity Coming Into The Market Could Boost Bitcoin, Ethereum<\/h2>\n<p><span style=\"font-weight: 400\">In a <\/span><a href=\"https:\/\/x.com\/ali_charts\/status\/77731503?s=20\" rel=\"nofollow\"><span style=\"font-weight: 400\">post<\/span><\/a><span style=\"font-weight: 400\"> shared on his X (formerly Twitter) platform, Crypto analyst Ali Martinez revealed that the crypto market has seen close to $10.97 billion in <\/span><a href=\"https:\/\/bitcoinist.com\/320-million-capital-bitcoin-dominated-crypto-inflow\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">positive capital inflows<\/span><\/a><span style=\"font-weight: 400\">, which represents the highest level this year. According to him, this inflow of capital into crypto could potentially mean that investors are heavily bullish on these assets.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/shiba-inu-whales-bet-big-as-shibarium-grows-road-to-0-1\/\">Shiba Inu Whales Bet Big As Shibarium Grows \u2013 Road To $0.1?<\/a><\/div>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-559276 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Crypto-liquidity.png?w=460&#038;resize=460%2C259\" alt=\"Crypto liquidity\" width=\"460\" height=\"259\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Crypto-liquidity.png?w=512 512w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Crypto-liquidity.png?w=460 460w\" sizes=\"(max-width: 460px) 100vw, 460px\"><\/p>\n<pre style=\"text-align: center\"><span style=\"font-weight: 400\">Source: X<\/span><\/pre>\n<p><span style=\"font-weight: 400\">Meanwhile, there is also further evidence that the market, most especially Bitcoin, could see an <\/span><a href=\"https:\/\/bitcoinist.com\/crypto-capital-inflows-4-5-billion-month-glassnode\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">influx of new money<\/span><\/a><span style=\"font-weight: 400\"> in the coming days, as Martinez mentioned in a subsequent <\/span><a href=\"https:\/\/x.com\/ali_charts\/status\/97279889?s=20\" rel=\"nofollow\"><span style=\"font-weight: 400\">post<\/span><\/a><span style=\"font-weight: 400\"> that over 700,000 new BTC addresses were created on November 4. The analyst believes that such a happening is an important milestone as Bitcoin\u2019s network growth is one of the best price predictors.<\/span><\/p>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-559277\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Ethereum-Bitcoin.png?w=460&#038;resize=460%2C259\" alt=\"Ethereum Bitcoin\" width=\"460\" height=\"259\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Ethereum-Bitcoin.png?w=512 512w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Ethereum-Bitcoin.png?w=460 460w\" sizes=\"(max-width: 460px) 100vw, 460px\"><\/span><\/p>\n<pre style=\"text-align: center\"><span style=\"font-weight: 400\">Source: X\u00a0<\/span><\/pre>\n<p><span style=\"font-weight: 400\">It is uncertain what could be behind these inflows and the revived interest in the crypto market. However, some believe that it could be institutional investors who are taking positions ahead of a possible approval of the pending <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-spot-etf-three-years\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Spot Bitcoin ETF<\/span><\/a><span style=\"font-weight: 400\"> applications by the Securities and Exchange Commission.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Others believe that the <\/span><a href=\"https:\/\/bitcoinist.com\/another-bull-run-is-close\/#:~:text=This%20Crypto%20Founder%20Believes%20Another%20Bitcoin%20Bull%20Run%20Is%20Close%2C%20Here's%20Why,-by%20Scott%20Matherson&amp;text=Several%20crypto%20analysts%20have%20continued,next%20bull%20run%20will%20occur.\" rel=\"nofollow\"><span style=\"font-weight: 400\">Bitcoin Halving could be contributing<\/span><\/a><span style=\"font-weight: 400\"> to the resurgence in Bitcoin\u2019s price and the crypto market by extension. Historically, Bitcoin has seen significant gains in the period leading up to the Halving event. The next Halving is expected to happen in April 2024.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Whatever the reason, there is no doubt the influx of new money into the ecosystem is a positive development. A particular crypto analyst <\/span><a href=\"https:\/\/wncen.com\/analysis\/xrp\/xrp-price-prediction-0-9\/\"><span style=\"font-weight: 400\">had once noted<\/span><\/a><span style=\"font-weight: 400\"> that many altcoins were tepid due to the lack of liquidity in the market and that they could pick up once there is renewed interest in the market.<\/span><\/p>\n<h2>Institutional Interest Coming From Overseas<\/h2>\n<p><span style=\"font-weight: 400\">According to a Bloomberg <\/span><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-05\/hong-kong-mulls-allowing-spot-crypto-btc-etfs-sfc-s-leung-says\" rel=\"nofollow\"><span style=\"font-weight: 400\">report<\/span><\/a><span style=\"font-weight: 400\">, Hong Kong\u2019s financial regulator, the <\/span><a href=\"https:\/\/bitcoinist.com\/jpex-scandal-cant-ruin-hong-kongs-web3-vision\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Securities and Financial Commission<\/span><\/a><span style=\"font-weight: 400\"> (SFC), is considering allowing the launch of exchange-traded funds (ETFs) that allow investors to invest directly in the cryptocurrency itself (Spot trading).\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin-under-35000-supply\/\">Bitcoin Falls Under $35,000 But 86% Of Supply Remains Unmoved \u2013 Temporary Setback?<\/a><\/div>\n<p><span style=\"font-weight: 400\">This development comes amid the <\/span><a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-spot-etf-sec\/#:~:text=Bitcoin%20Crashes%20Below%20%2426%2C000,Valkyrie%2C%20VanEck%2C%20and%20Bitwise.\"><span style=\"font-weight: 400\">US SEC\u2019s reluctance<\/span><\/a><span style=\"font-weight: 400\"> to approve the pending <\/span><a href=\"https:\/\/wncen.com\/bitcoin-news\/sec-prove-bitcoin-is-not-manipulated\/\"><span style=\"font-weight: 400\">Spot Bitcoin ETF<\/span><\/a><span style=\"font-weight: 400\"> applications, which would allow US investors to have direct exposure to the flagship cryptocurrency, Bitcoin.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This further highlights the <\/span><a href=\"https:\/\/bitcoinist.com\/ripple-clo-positioning-xrp-us\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">stark contrast between the treatment<\/span><\/a><span style=\"font-weight: 400\"> that the crypto industry has received overseas and in the United States. The positive approach taken by regulators overseas is, however, commendable as the crypto industry continues to see interest from such regions.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/eYjh3J4Q\/\" alt=\"Bitcoin price chart from Tradingview.com (Ethereum crypto capital inflows)\" width=\"2650\" height=\"1758\"><\/p>\n<pre style=\"text-align: center\">BTC bulls try to reclaim $35,000 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured image from iStock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Many had speculated that the rally in the crypto market was going to wane following the Spot Bitcoin ETF rumors fading out. That hasn\u2019t been the case, though, and a recent revelation from a prominent crypto analyst suggests that the two largest cryptocurrencies by market cap, Bitcoin and Ethereum, could continue to see an upward trend.\u00a0 New Liquidity Coming Into The Market Could Boost Bitcoin, Ethereum In a post shared on his X (formerly Twitter) platform, Crypto analyst Ali Martinez revealed that the crypto market has seen close to $10.97 billion in positive capital inflows, which represents the highest level this year. According to him, this inflow of capital into crypto could potentially mean that investors are heavily bullish on these assets.\u00a0 Related Reading: Shiba Inu Whales Bet Big As Shibarium Grows \u2013 Road To $0.1? Source: X Meanwhile, there is also further evidence that the market, most especially Bitcoin, could see an influx of new money in the coming days, as Martinez mentioned in a subsequent post that over 700,000 new BTC addresses were created on November 4. The analyst believes that such a happening is an important milestone as Bitcoin\u2019s network growth is one of the best price predictors. Source: X\u00a0 It is uncertain what could be behind these inflows and the revived interest in the crypto market. However, some believe that it could be institutional investors who are taking positions ahead of a possible approval of the pending Spot Bitcoin ETF applications by the Securities and Exchange Commission.\u00a0 Others believe that the Bitcoin Halving could be contributing to the resurgence in Bitcoin\u2019s price and the crypto market by extension. Historically, Bitcoin has seen significant gains in the period leading up to the Halving event. The next Halving is expected to happen in April 2024.\u00a0 Whatever the reason, there is no doubt the influx of new money into the ecosystem is a positive development. A particular crypto analyst had once noted that many altcoins were tepid due to the lack of liquidity in the market and that they could pick up once there is renewed interest in the market. Institutional Interest Coming From Overseas According to a Bloomberg report, Hong Kong\u2019s financial regulator, the Securities and Financial Commission (SFC), is considering allowing the launch of exchange-traded funds (ETFs) that allow investors to invest directly in the cryptocurrency itself (Spot trading).\u00a0 Related Reading: Bitcoin Falls Under $35,000 But 86% Of Supply Remains Unmoved \u2013 Temporary Setback? This development comes amid the US SEC\u2019s reluctance to approve the pending Spot Bitcoin ETF applications, which would allow US investors to have direct exposure to the flagship cryptocurrency, Bitcoin.\u00a0 This further highlights the stark contrast between the treatment that the crypto industry has received overseas and in the United States. The positive approach taken by regulators overseas is, however, commendable as the crypto industry continues to see interest from such regions.\u00a0 BTC bulls try to reclaim $35,000 | Source: BTCUSD on Tradingview.com Featured image from iStock, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":559280,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,13625],"tags":[428,656,89185,1144,78790,8323,89213,1946,7931,8686,78803],"class_list":["post-559275","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-ethereum","tag-bitcoin","tag-bitcoin-news","tag-btc-news","tag-btcusd","tag-btcusdt","tag-eth","tag-eth-news","tag-ethereum","tag-ethereum-news","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Bitcoin And 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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