Bitpush data shows that Bitcoin reached an all-time high of $107,822 around 1:30 PM Eastern Time on Monday, an increase of about 5.5% from last Friday's close. Meanwhile, Ethereum briefly rose to $4,081, the highest recorded price since December 2021, slightly above the peaks in March and early December of this year.
As of the time of writing, Bitcoin has slightly retreated, currently priced at $105,815, up nearly 3% for the day, with a weekly increase of 9%. ETH is at $4,029, up over 3% for the day, but still 16% lower than its all-time high of $4,878 set in November 2021. The total cryptocurrency market capitalization is $3.7 trillion, up 2.97% in the past 24 hours.
According to CoinGlass data, the total liquidation amount in the crypto market in the past 24 hours was $489 million, with Bitcoin liquidation accounting for $177 million, and Ethereum (including long positions) at $97 million.
Cryptocurrency fund inflows hit a record high
Global cryptocurrency funds continue to be favored by institutional investors, with inflows reaching historic highs. According to CoinShares data, in the past four weeks, global cryptocurrency funds have consistently recorded net inflows totaling $3.2 billion. This positive trend has brought the total inflows for the year so far to $44.5 billion, more than four times that of any previous year.
Among them, Bitcoin exchange-traded funds (ETFs) listed in the U.S. have performed particularly well. In the past week, these ETFs attracted a net inflow of $2.17 billion, bringing the total inflow since their launch in January this year to over $5.3 billion.
Aside from Bitcoin, Ethereum funds have also recorded a net inflow for seven consecutive weeks, totaling $1 billion. The market's optimism towards Ethereum continues to rise, driving sustained capital inflows. Bernstein analyst Gautam Chhugani stated: 'In the past two weeks, the inflow of Ethereum ETFs has exceeded $800 million per week, reflecting an accelerating trend.'
In addition, other altcoin funds have also recorded varying degrees of net inflows. XRP investment products saw a net inflow of $145 million last week, while funds based on Polkadot and Litecoin saw inflows of $3.7 million and $2.2 million, respectively.
'Christmas Rally'
Investor sentiment has been boosted by MicroStrategy (MSTR.O) being included in the tech-heavy Nasdaq 100 index, with MicroStrategy's stock price soaring more than sixfold this year, reaching a market capitalization of nearly $94 billion.
Matthew Dibb, Chief Investment Officer of crypto asset management firm Astronaut Capital, believes that inclusion in the Nasdaq 100 will create a virtuous cycle: funds tracking the index will passively buy MicroStrategy shares, driving up the stock price; MicroStrategy can continue to increase its BTC holdings through bond or stock issuance, further consolidating its holding advantage, attracting more investor attention, and driving the stock price even higher.
He said: 'The inclusion seems a bit unexpected, but it hasn't dampened people's excitement. Many believe this is the beginning of a capital cycle that could push up Bitcoin's spot price.'
Data from the past eight years shows that since 2015, Bitcoin has closed up in December six times, with an increase of at least 8%, peaking at 46% (excluding 2020).
This year's Christmas rally seems to have started early. The Christmas rally refers to the phenomenon where U.S. stocks often rise during the last week of December and the first few days of January. This rise is often influenced by holiday optimism, increased holiday spending, and investors engaging in year-end trading.
IG analyst Tony Sycamore told CNBC: 'We are currently in an uncertain range. The next number the market is anticipating is $110,000. The pullback that many have speculated did not occur.'
Mena Theodorou, co-founder of Coinstash, believes: 'With BTC solidly above $100,000, the growth momentum of ETH and significant ETF inflows may herald the onset of a broader altcoin Christmas rally. Coupled with the Trump administration's support for cryptocurrencies, easing inflation, and the possibility of Fed rate cuts, the conditions supporting potential cryptocurrency market growth are very robust.'
Meanwhile, some traders have set targets for BTC to reach $120,000 and above in the coming year.
Jeff Mei, COO of cryptocurrency exchange BTSE, stated on Telegram: 'We believe Bitcoin still has significant upside potential, and by the end of 2025, it could easily reach $125,000. While some have pointed out that Bitcoin's upside potential has been digested over the past month or so, we believe the upward trend is just beginning. This is because institutions, family offices, and high-net-worth individuals need time to accept the idea of allocating 1%-3% of their portfolios to Bitcoin and cryptocurrencies. Once this happens, inflows into cryptocurrencies could skyrocket. Given Trump's pro-crypto appointments, ongoing rate cuts, and China's stimulus policies, there are many bullish reasons.'
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