Recently, there have been 4 positive developments that have driven the rise of Bitcoin and Ethereum.
What are the 4 positive developments? Read on!
Positive Development 1: The Trump Family is Optimistic about the Market
Previously, Trump initiated a DeFi project called WLFI, which raised funds through USDC.
A few days ago, something happened,
The Trump family converted all the USDC raised by WLFI into CBBTC and Ethereum.
What does this indicate?
It indicates that the family with the most insider information is optimistic about the prospects of Bitcoin and Ethereum,
believing that Bitcoin and Ethereum will increase in value!
So, as ordinary people, should we trust the first family of America,
or should we believe the heavily indebted yet stubborn short-selling analysts?
Positive Development 2: Minimal Inflow of Bitcoin on Exchanges
Over 3,000 Bitcoins flowed out of Binance exchange a few days ago,
with a slight inflow yesterday.
However, overall, the net flow over the past two days has been relatively stable, with institutions continuously buying at this position, along with some bottom holders taking profits.
Positive Development 3: Large Inflows into ETFs
Although last week's net flow for Bitcoin ETFs was slightly negative,
Ethereum ETFs, on the other hand, saw a significant inflow of funds.
Looking at the entire timeline of Ethereum ETFs,
the previous net flows were all negative, with Ethereum ETFs becoming a tool for whales to cash out.
However, last week, there wasn't a single day with negative net flow for Ethereum,
even reaching a net flow of $332 million on November 29.
This indicates that the entire market is currently more optimistic about Ethereum.
Positive Development 4: Easing of War Conflicts
In terms of geopolitics, the focus remains on the Israel and Russia-Ukraine conflicts.
Under the mediation of the US and France, Israel and Hezbollah agreed to a ceasefire.
