Daily Digest: BTC ETF weekly inflow exceeds $3 billion, SOL ETF expected to be approved by the end of next year

According to Farside Investor data, the net inflow of SpotBTCETF in the United States last Friday was 490 million US dollars. Among them, BlackRock IBIT saw an inflow of 513 million US dollars, while Grayscale GBTC saw an outflow of 67.1 million US dollars. The single-week inflow of BTC ETF last week exceeded 3 billion US dollars, setting a historical record.

Last Friday, the US Ethereum Spot ETF saw an inflow of 91.3 million USD. Among them, BlackRock ETHA saw an inflow of 99.7 million USD, while Grayscale ETHE saw an outflow of 18.6 million USD.

The ETF Store President: Solana ETF is expected to be approved by the end of next year at the latest.

Nate Geraci, President of the ETF Store, said, "I believe there is a high possibility that the Solana ETF will be approved by the end of next year at the latest. The SEC may currently be in contact with the issuer regarding this product, which is clearly a positive signal."

Given that industry leaders like Bitwise have already submitted applications, Two Prime Digital Assets CEO Alexander Blume also agrees with this view.

"If they don't have a successful good feeling, they won't waste time and money on this," Blume said, the success and precedent of SpotBTC and SpotETH ETFs, coupled with a more crypto-friendly regulatory environment, will lead to the launch of SOL ETF next year.

Blume said, 'Both institutional investors and retail investors can access cryptocurrency through regulated TradFi channels such as banks and exchanges, using ETFs. This opens up previously non-existent pools of capital. It's like switching from a regular water pipe to a fire hose in a swimming pool, which means that potential momentum and speculative trading can have a greater impact.'

CryptoQuant CEO: Currently, the BTC market has not formed a bubble yet, and the target price can reach $141,000

CryptoQuant CEO Ki Young Ju stated in a post on X that the BTC market has not yet entered a bubble phase. From the perspective of Realized Cap, the rise in Market Cap is not significant compared to the cumulative on-chain capital inflows. Based on the steady rise trend of the current Realized Cap, there is still room for BTC price to pump, with a target price of up to $141,000.

Ki Young Ju explains that Market Cap measures the scale of capital inflows into the market by calculating the total value of all BTC at the time of their last on-chain transfer. Historical data shows that during a bull run, Market Cap often exceeds Realized Market Cap and reaches its peak when retail investors get on board; while during a bear market, Market Cap may fall below Realized Market Cap.

This week's unlocking data overview: SUI, OP, 1INCH and other Tokens will see large unlocking

According to Tokenomist.ai data, SUI, OP, 1INCH and other Tokens will see a significant unlock this week, including:

Immutable (IMX) will unlock approximately 24.52 million tokens at 8:00 am Beijing time on November 29th, with a ratio of 1.47% to the current circulating supply, worth approximately $42.17 million.

Optimism（OP）will unlock approximately 31.34 million Tokens at 8:00 on November 30th, Beijing time, accounting for 2.5% of the current circulation, worth approximately $68.32 million;

1inch (1INCH) will unlock approximately 98.74 million tokens at 20:00 Beijing time on November 30th, accounting for approximately 7.72% of the current circulating supply, with a value of approximately $38.86 million.

Sui（SUI） will unlock about 64.19 million Tokens at 8:00 on December 1st, Beijing time, accounting for 2.26% of the current circulation, worth about $216 million;

Market Analysis: Metaverse SAND, MANA Soar, New Coins PNUT, ACT Leading the Decline

Market Trends

Old coins like XRP, ELF, etc. have skyrocketed in the bull market. The price pump of tokens in the bull market has little to do with the fundamentals of the projects. The pump of old coins is caused by the overflow of market funds from new coins and the frenzy of market sentiment;

Metaverse concept protocol SAND, MANA and others have surged, but SAND and MANA are still down 90% from the previous Bull Market high; Metaverse was a concept that was hyped in the previous Bull Market, and SAND and MANA also briefly gained tens of times in the previous Bull Market, but after three years of market testing, the market does not buy into the Metaverse concept.

The on-chain popular coins RIF, URO, and others have surged. RIF and URO are the leadingTokens of life science concepts, with a current market capitalization of just over 100 million. They are in line with the hot spots of market speculation, with a relatively small market capitalization suitable for speculation. The life science concept may become one of the more novel narratives in this round of market trends;

Market Trend

BTC is sideways at a high level, with BTC ETF receiving over 3 billion USD inflows last week, reaching a historical high since the listing of ETF. Despite the psychological level of $100,000 being a major resistance for BTC, the future outlook remains positive and optimistic.

ETH briefly touched the $3,500 mark last week and has now slightly retreated to around $3,350. ETH ETF saw a net inflow of over $90 million in five consecutive days.

Altcoins fluctuate, with early strong new coins such as PNUT and ACT leading the decline, but traditional coins attract market attention with larger gains;

Macro News: The three major US stock indexes collectively pump, and the Fed's expectation of no rate cut is increasing

The three major U.S. stock indexes rose collectively, with the S&P 500 rising by 0.35% to 5969.34 points; the Dow Jones Industrial Average rising by 0.97% to 44296.51 points; and the Nasdaq rising by 0.16% to 19003.65 points. Last week, the Dow Jones rose by 1.96% for the week, the Nasdaq rose by 1.73% for the week, and the S&P 500 rose by 1.68% for the week. The 10-year Treasury yield of the Benchmark is 4.41%, and the 2-year Treasury yield, which is most sensitive to the Interest Rate policies of the Federal Reserve, is 4.37%.

On Wednesday, November 27th, Beijing time, the Federal Reserve will release the minutes of the November monetary policy meeting. The market will closely follow the minutes for information on inflation data, policy stance, economic outlook, and more. In addition, the Federal Reserve's most closely followed inflation indicator, the October Personal Consumption Expenditures (PCE) Price Index, will also be announced on the same day.

Analysts generally believe that the future Interest Rate has more upside risks than downside risks. In Trump's policy framework, both the incremental stimulus of tax cuts and increased investment and the supply disruption of tariffs and immigration will create upward disturbances to the Interest Rate. Currently, the market's expectation of no rate cut by the Fed in December continues to increase. According to CME's FedWatch tool, the probability of a pause in rate cuts in December is currently 47.3%, compared to 38.1% last week.

Author: Icing, Gate.io Researcher This article only represents the author's point of view and does not constitute any trading recommendations. Investment is risky and decisions should be made with caution. This article is original, and the copyright belongs to Gate.io. Please indicate the author and source if you need to reprint, otherwise legal responsibility will be pursued.