The cryptocurrency market has risen by 3.29% in the past 24 hours, driven by significant institutional volatility, policy adjustments, and a large influx of ETFs, showing a bullish momentum.
According to CoinMarketCap data, as of Friday, the global cryptocurrency market capitalization stands at $3.86 trillion.
Driven by institutional adoption and factors such as Trump's recent executive order on cryptocurrencies in 401(k) plans, positive sentiment has rekindled in the cryptocurrency market.
The influx of cryptocurrency ETFs is a massive market driver—here’s why.
In addition, the rebound of Bitcoin and Ethereum exchange-traded funds (ETFs) in the U.S. marks another significant day for cryptocurrency inflows.
Data from Sosovalue shows that on August 7, the spot Bitcoin ETF led by BlackRock saw net inflows exceeding $280.69 million. BlackRock's IBIT alone achieved a net inflow of $156.64 million, followed by Fidelity's FBTC, which had a net inflow of $43.45 million as of Thursday.
