The digital asset market is on the rise as Ether reclaims $3,500. ETH is trading at $3,540, up over 4% in the last 24 hours. The CoinDesk 20 Index (CD20) is up about 1.6%. DOGE is almost 3.5% higher after Tuesday's decline, while SHIB is also up over 3%. Bitcoin is trading around $65,400, up 0.2% from 24 hours ago. Spot bitcoin ETFs in the US experienced outflows of $152.4 million on Tuesday. 📈💰

Wallets tracked by CryptoQuant show whales sold over $1.2 billion worth of BTC in the last two weeks. These long-term bitcoin holders suggest there is no continued upward move for the world's largest cryptocurrency. Market observers note that crypto miners are now starting to turn to the fast-growing AI sector rather than bitcoin and therefore prefer to sell bitcoin rewards. Both industries are heavily dependent on powerful computer chips to create and maintain data.

Bitcoin and crypto-related stocks are undervalued and ripe for institutional adoption, according to broker Bernstein. Bitcoin and bitcoin ETFs may have disappointed in recent months, but Bernstein predicts ETF approval by major wire companies and major private bank platforms in the second half of the year. The report noted that Bitcoin ETF inflows will accelerate in the third and fourth quarters, and that the next phase of adoption will be driven by major advisors approving ETFs and allocation share from existing portfolios.

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