Bitfinex Releases Its 131st Alpha Report
Foreks - Bitfinex released its 131st Alpha Report: Bitcoin, reaching a historic peak, has become the world's 8th largest asset.
According to the Bitfinex Alpha Report, Bitcoin has surged by 39.5% in a short period, reaching an all-time high of $93,318 and elevating its market value to $1.8 trillion, thus becoming the world's 8th largest asset. This momentum indicates that Bitcoin is attracting interest similar to mainstream assets, while the spot Bitcoin ETFs reaching a size of $84 billion demonstrates strong institutional demand. Despite medium-term corrections, Bitcoin is expected to reshape capital flows in the long run.
According to Bitfinex's 131st Alpha Report, Bitcoin has reached an all-time high of $93,318, increasing its market capitalization to $1.8 trillion, thus becoming the world's 8th largest asset. This rise, marked by a 39.5% increase over the past nine days, signals one of the largest short-term capital inflows in Bitcoin’s history. This momentum suggests an increase in institutional demand, showing that Bitcoin has reached parity with mainstream assets. These developments lead to the belief that Bitcoin could reshape market dynamics in the long term.
Bitcoin ETFs, inflation dynamics, and signs of change in SEC leadership
Spot Bitcoin ETFs trading in the United States correspond to 66% of the assets under management of gold ETFs, amounting to $84 billion. Although a recent net outflow of $640 million indicates a slight cooling of investor enthusiasm, such flows are expected to continue in the long run. The rise in institutional entries and the rapid increase in market share of ETFs indicate that Bitcoin could reshape the allocation of capital in the future and pave the way for a long-term uptrend.
In October, although inflation rose due to increasing housing and second-hand car prices, the decline in energy prices partially offset this rise. Retail sales remained above expectations, indicating sustained economic momentum due to stable wage growth and household wealth. These developments demonstrate the resilience of the U.S. economy, showcasing a strong yet delicate balance amid challenges like inflation. As markets adjust to these dynamics, stability in the economic outlook persists.
As cryptocurrency markets rapidly evolve, SEC Chairman Gary Gensler's recent statements emphasize a strong legacy regarding reforms in stock markets, corporate governance, and crypto regulations. These remarks have sparked speculation about Gensler potentially stepping down. His success may represent a crucial turning point as it has guided regulatory changes in the crypto world. These developments illustrate that we are in a critical period for the SEC's future and the shaping of regulations in the cryptocurrency markets.
Robinhood is expanding its cryptocurrency portfolio, adding Solana, Cardano, Ripple, and Pepe to its tradable assets. Additionally, a proposal for a U.S. Bitcoin reserve is gaining momentum, with Michael Saylor and Senator Cynthia Lummis advocating for the country's increase in Bitcoin holdings. Saylor described this potential acquisition as "the biggest deal of the 21st century," and these developments showcase the dynamic nature of the cryptocurrency industry and its rapid adaptation to market demands.