Crypto inflows have touched record highs after a year as investors increase their allocation to crypto investment products centered on multiple tokens.

The crypto market saw traders and investors help Bitcoin float above $37,000 in the last 24 hours. Despite the market slowing down in the same period, the level has emerged as the new support level for BTC. Crypto bulls were consistent in the market, as the BTC derivatives’ strength was resilient in the last few days. Crypto inflows have also improved in 2023, rising consecutively in the previous few weeks.

Regulatory events around the globe have grabbed eyeballs in November as multiple events unfolded for crypto. With price action in the market being influenced by such events, traders could be cautious in December 2023.

Crypto investment products saw inflows of more than $1.5 billion in the present year. Over $346 million flowed into crypto investment products in the last week alone, with Bitcoin accounting for $312 million. 

A crypto investment strategy firm that revealed the above numbers noted the following about ETH in , “Ethereum saw US$34m inflows last week, bringing this 4-week run to US$103m, almost correcting its run of outflows this year, marking a decisive turn-around in sentiment.”

BTC/USD 1D price chart

Bitcoin is currently trading at around $37,100 on November 28, 2023, with BTC/USD trading lower by a margin of 0.8% in the last 24 hours. Bitcoin’s market cap is trading at around $723 billion.

BTC/USD is trading higher than its 20-day EMA (36,393.57), as BTC’s 24-hour volume was at around $18 billion. The crypto market cap decreased by around 0.78%, trading above $1.41 trillion. BTC’s year-to-date returns are above 123.83%.

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The crypto price rally has hit a roadblock in the current week, but the global crypto market cap is trading slightly below the $2 trillion mark, sending positive trading indicators.

Bitcoin has traded in a tight range between $50,500 and $52,000 in the last 24 hours, halting the crypto price rally. Meanwhile, the global crypto market cap is trading near $2 trillion, helping hold bullish signals in the market. The static movements of the crypto market could continue in the next few days while BTC could hold its $50,000 support.

Retail investors could have helmed the latest crypto price rally, where BTC rose by almost 30%. Moreover, other crypto tokens also went through high returns. BNB, ETH, MATIC, and TRX are sitting on positive weekly returns. At the same time, Ethereum’s market cap has breached $350 billion.

Institutional investors have also been active in the crypto market. In a recent regulatory filing, Reddit confirmed investing in BTC and ETH. The same report also underlined the potential of crypto and blockchain.

Bitcoin’s price range may also retrace before the BTC halving event if it goes below $50,000 soon. On the other hand, if it manages to cross $53,000, an immediate upward trend till $60,000 is possible. Its volatility has also been relatively lower and may continue the same way over the weekend.

BTC/USD 1D price chart

Bitcoin is currently trading at around $51,200 on February 23, 2024, with BTC/USD trading lower by a margin of 1.5% in the last 24 hours. Bitcoin’s market cap was trading at around $1.01 trillion.

BTC/USD is trading higher than its 20-day EMA (47,541.52), as BTC’s 24-hour volume was at around $24 billion. The global crypto market cap increased by around 0.37%, trading above $1.96 trillion. BTC’s year-to-date returns are at 21.61%.

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The euphoria continued for Bitcoin and other tokens as the bullish moves of the crypto market cycle extended to take its market cap higher in the last 24 hours.

Bitcoin posted higher returns even as other token prices notched ahead with the upward crypto market cycle. Crypto bulls were active in higher numbers, leading analysts to revise their estimates for the market. At the current growth rate, BTC could touch $50,000 within 2023, aiming to cross its all-time high in the first quarter of 2024.

BTC broke ahead of all resistance levels in the last 24 hours. The price gains helped it cross $44,000 for a short period. Although it is currently trading below the level, it could soon consolidate higher than the mark. Token prices marched ahead in the bull run, with those like ETH, Solana, Dogecoin, and Cardano witnessing high returns. Ethereum’s market cap is trading at around $268 billion, with seven-day returns of 10%.

Experts are weighing in on the US Federal Reserve to pause interest rate hikes in December. The move could fuel more optimism in the crypto market. Moreover, the higher market cap could indicate traders and investors are nudging off macro risks in the economy. Centralized crypto exchanges may also see higher inflows shortly with the rising interest in crypto.

BTC/USD 1D price chart

Bitcoin is currently trading at around $43,800 on December 6, 2023, with BTC/USD trading higher by a margin of 5.6% in the last 24 hours. As a result, Bitcoin’s market cap is trading at around $855 billion.

BTC/USD is trading higher than its 20-day EMA (38,107.07), as BTC’s 24-hour volume was at around $38 billion. The crypto market cap increased by around 4.2%, trading above $1.6 trillion. BTC’s year-to-date returns are above 164.28%.

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