📊 Fundamental Analysis
$BTC ETFs saw $6.1 billion in inflows in November, the highest monthly total since the instrument was launched in January. This shows that investors are becoming more confident in the asset, but prefer the safety of regulated ETFs to direct purchases of BTC. Record inflows into Bitcoin ETFs could support BTC’s rise above $100,000.
Ethereum (ETH)-focused investment products saw $634 million in inflows. The total amount of investment this year has exceeded $2.2 billion, breaking the 2021 record of $2 billion. Ripple (XRP)-based crypto funds also saw record investments - $95 million. This could be due to the preparation of ETFs on other cryptocurrencies, which will speed up the start of the altseason.
Tomorrow, information may appear on who will take over the post of head of the US Securities and Exchange Commission (SEC). This is one of the main financial regulators in the US, whose powers also cover the regulation of the crypto market. Under the leadership of the current head of the Commission, Gary Gensler, the agency has launched a tightening of regulation in the cryptocurrency market. The appointment of a crypto-friendly commissioner to the post can support the positive market movement and contribute to the start of the altseason.
This week, data on the US labor market will be released. They are a key factor that influences the monetary policy of the Federal Reserve. A further reduction in the Fed interest rate will also affect the growth of the cryptocurrency market as a whole.
🌐 Upcoming events in the global economy
By the following dates, we expect increased volatility in the stock and cryptocurrency markets:
➤ 12/04, 21:45 - Speech by Fed Chairman Jerome Powell.
➤ 12/06, 21:45 - US Unemployment Rate for November.
➤ 12/18, 21:00 - New Fed Interest Rate Decision.
➤ 12/18, 21:00 - US GDP (q/q) (Q3)
➤ 01/29/2025, 21:00 - New Fed Interest Rate Decision.