CoinVoice has learned that, according to The Block, research institutions indicate that the continuous entry of institutions is helping Bitcoin maintain its price near historical highs, with the current trading price around $118,500. Ethereum has also performed strongly, with its price rising to $3,761, benefitting from more companies incorporating ETH into their treasury reserves and record inflows into spot ETFs.
Presto Research analyst Min Jung pointed out that although Bitcoin's dominance has dropped to 61%, the current bull market is still driven by institutional funds. It remains uncertain whether this trend will spread to a broader altcoin market beyond the large 'dinosaur coins'.
Nick Ruck, head of LVRG Research, added that the driving forces behind this bull market include corporate treasury allocations of ETH and some mainstream altcoins, as well as the trend of TradFi institutions accelerating integration into the DeFi ecosystem through RWA tokens and stablecoins. [Original link]
