Spot exchange-traded funds (ETFs) on Bitcoin (BTC) reached a new maximum in capital inflow. On November 7, they attracted $1.38 billion — a record amount for a single day since their launch in January.
The increase in inflow to bitcoin ETFs is partially explained by Donald Trump's victory in the US presidential election. Many investors expect that his return to the presidency will have a positive impact on the crypto industry.
An additional driver for bitcoin's growth is the latest decision by the United States Federal Reserve (Fed). At a recent meeting, the regulator lowered the key interest rate by 25 basis points.
Potential changes in the crypto community after Trump's reelection:
Bitcoin may become a strategic reserve asset for the US;
The classification of tokens will be revised: most cryptocurrencies will be considered commodities rather than securities;
A surge of new crypto investors into the market is expected;
Banks will be able to more actively support crypto companies and provide services to crypto startups;
Attention to spot ETFs based on other assets, such as Solana (SOL), will increase.
🌐 Important events in the global economy
High volatility in the stock and cryptocurrency markets is possible in the near future:
➤ 11/13, 16:30 — Publication of the Consumer Price Index (CPI) in the US for October.
➤ 11/14, 23:00 — Speech by Fed Chairman Jerome Powell.
➤ 11/27, 16:30 — GDP data (q/q) for the 3rd quarter.
➤ 12/18, 21:00 — New Fed interest rate decision.
➤ 01/29/2025, 21:00 — Next Fed interest rate decision.
