According to PANews, EMC Labs has reported significant developments in the cryptocurrency market following the conclusion of the U.S. elections. The U.S. stock market experienced a substantial rise as traders bet on increased corporate profits due to anticipated tax cuts and a low-interest-rate environment. In this context, Bitcoin ETFs saw an inflow of $1.728 billion in a single week, while stablecoin channels recorded an inflow of $4.776 billion, totalling $6.504 billion. This marks the largest weekly inflow since 2024.
Last week, Bitcoin surpassed the resistance levels of $73,000 and $75,000, breaking through its previous high consolidation zone and returning to its upward trend line after eight months. This development is seen as the official start of the second half of the crypto bull market. As a result, Ethereum (ETH) achieved a weekly gain of 29.52%, and various altcoins also experienced significant increases.
EMC Labs' eMerge Engine's BTC Cycle Metrics indicator is currently at 0.875, indicating that the market is in an upward phase with strong growth momentum. With robust liquidity driving the market, Bitcoin is expected to continue its upward trajectory, and altcoins are anticipated to experience widespread gains.
