Citing MetaEra, the recent rate cut has led to a stable upward trend in the cryptocurrency market, with institutional funds reaching record levels. Bitcoin touched a new high of $118,000 during the week, closing at $116,000 with a 1% weekly gain. Ethereum remained stable at $4,520, while BNB broke $1,000 for the first time, marking a 10% increase. Institutional interest surged, with Bitcoin spot ETFs seeing a net inflow of 20,000 BTC, equivalent to $2.3 billion, the highest since inception. BlackRock's iShares Bitcoin Trust contributed over $1 billion in purchases. Meanwhile, the SEC approved new listing standards, reducing ETF approval cycles, facilitating the launch of XRP and DOGE ETFs. The EU's MiCA entered its implementation phase, and Hong Kong's stablecoin licensing regime took effect. The market outlook remains cautiously optimistic, with potential volatility due to high leverage in derivatives markets.
Record Institutional Inflows as Bitcoin Hits $118,000 Amid Rate Cut
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