Around 1:30 PM Eastern Time on Monday, Bitcoin (BTC) refreshed its historical record, reaching a new high of $107,822, achieving an increase of about 5.5% compared to last Friday's closing price. Meanwhile, Ethereum (ETH) also briefly climbed to $4,081, a high not seen since December 2021, slightly exceeding the previous peaks in March and early December of this year.
Although Bitcoin's upward trend later experienced some pullback, the current price remains around $105,815, with a daily increase of nearly 3%, and a weekly increase of 9%. The price of Ethereum (ETH) is $4,029, up more than 3% on the day; however, it is still about 16% lower than the historic peak of $4,878 reached in November 2021. In terms of the overall market, the total market capitalization of cryptocurrencies reached $3.7 trillion, achieving a 2.97% growth in the past 24 hours.
In the past 24 hours, the total liquidation in the crypto market amounted to $489 million, of which Bitcoin's liquidation was $177 million, while Ethereum (including long positions) accounted for $97 million.
Cryptocurrency fund inflows hit a historic high.
Global cryptocurrency funds continue to be favored by institutional investors, with inflows reaching a historic high. 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 inflow for the year to date to $44.5 billion, more than four times that of any previous year.
Among them, U.S.-listed Bitcoin exchange-traded funds (ETFs) have performed particularly well. In the past week, these ETFs attracted a net inflow of $2.17 billion, with total inflows exceeding $5.3 billion since their launch in January this year.
In addition to Bitcoin, the Ethereum fund has also recorded net inflows for seven consecutive weeks, totaling $1 billion, as market optimism towards Ethereum continues to rise, driving sustained inflows.
Investor sentiment has been boosted by MicroStrategy (MSTR.O) being included in the Nasdaq 100 index, which has a high proportion of tech stocks. Since the beginning of this year, MicroStrategy's stock price has skyrocketed more than sixfold, reaching a market capitalization of nearly $94 billion.
Matthew Dibb, Chief Investment Officer at cryptocurrency 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 continuously increase its BTC holdings by issuing bonds or stocks, further solidifying its position advantage, thereby attracting more investor attention and pushing the stock price up further.
This year's Christmas rally seems to have started early; the Christmas rally refers to the phenomenon where U.S. stocks often rise in 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.
