Daily News | BTC ETF Inflows Exceeded $800 Million in a Single Day, BTC Hit a New Historical High Within the Day

2024-11-20, 04:55

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## Crypto Daily Digest: BTC ETF Inflows Exceeded $800 Million in a Single Day, Market Remains Extremely Greedy
According to Farside Investor data, US spot <a  rel="nofollow noopener noreferrer"  href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> ETFs had a net inflow of $815 million yesterday. BlackRock IBIT had a net inflow of $213 million, Fidelity FBTC had a net inflow of $256 million, and Ark ARKB had a net inflow of $265 million.

Yesterday, the US <a  rel="nofollow noopener noreferrer"  href="/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> spot ETF outflow was $81 million. BlackRock's ETHA outflow was $14.23 million, Fidelity's FETH outflow was $46.7 million, and Grayscale's ETHE outflow was $20.4 million.

**Bloomberg analyst: Traders bet <a  rel="nofollow noopener noreferrer"  href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> will double next month**

Bloomberg senior ETF analyst Eric Balchunas wrote on X platform: "So far, the option trading volume on BlackRock IBIT has reached several hundred million dollars (a lot on the first day of listing). According to the ranking of contract trading volume, almost all of them are call options. It looks very optimistic, especially the C100 on December 20, which is basically betting that the price of <a  rel="nofollow noopener noreferrer"  href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> will double next month.”

**AI16Z co-founder Shaw: Some members have gained significant profits through Eliza's issuance, and the team will continue to promote project development**

AI16Z co-founder Shaw responded to the Eliza token issuance dispute in a post: “I coordinated with our release partner and attempted to purchase chips when Eliza was released, but did not receive much. However, someone in our team did receive a considerable amount of revenue and agreed to hand it over to the DAO and the team, so we have enough money to fulfill our airdrop commitments to other projects and maintain Eliza team operations.”

Shaw said, “Although it is regrettable that the project was preemptively issued, considering the interests of the holders, the original team has reached a cooperation agreement with the relevant issuer and promised to airdrop 10% of the supply to the initial token holders as compensation. The new team will join the Eliza project as a code contributor, focusing on assisting in the development of meta narrative tools. The Eliza project has been prepared for many years, and although this event is regrettable, the team will continue to promote the development of the project, ensuring that the token flows freely and is not controlled by any individual or organization.”

**The asset size of BlackRock IBIT has been increasing by 38% over the past 7 days, becoming the fastest growing ETF in history**

According to Fox Business, Dow Jones Market Data Group data shows that as of November 14, the largest Bitcoin spot ETF, BlackRock IBIT, had assets of $42 billion, an increase of 38% in the past seven days. This move has pushed the price of the ETF (stock code IBIT) to a historic high, and it is currently considered the fastest-growing ETF in history.

A spokesperson for BlackRock said, “Since its launch, the inflow of funds into IBIT has highlighted investors' tendency to invest in Bitcoin through the convenience and quality of ETFs. The market's expectation of positive regulatory action against Bitcoin and cryptocurrencies has reignited <a  rel="nofollow noopener noreferrer"  href="/price/optimism-op" target="_blank" class="blog_inner_link">optimism</a>. We still focus on educating investors and providing convenient and transparent Bitcoin investment channels.”

According to the company, IBIT has attracted over $3 billion in assets since the election. Donald Trump's presidency is expected to bring a government that is more supportive of cryptocurrency.

## Market Trends: Algorithmic stablecoin USUAL was launched, MOODENG, ACT, and other major dropped
### Market Hotspots
The algorithmic stablecoin protocol USUAL has been launched, with a current circulating market cap of $150 million and a total circulating market cap exceeding $1 billion. The current circulating market cap of ENA, a leading player in the same track, is $1.5 billion; Despite the previous LUNA storm, the market is still exploring solutions for algorithmic stablecoins, but USUAL's performance is average, and the market is no longer buying the story of this type of VC coin;

The AI meme-leading token GOAT showed strong performance, falling to around $1 yesterday and rebounding significantly by 20%. It is currently hovering around $1.2 and has a current circulating market value of $1.15 billion. We will observe whether GOAT will become the leading token in this round of market trends;

Trending coins such as MOODENG and ACT experienced a sharp decline in the early stage, while well-established coins such as XTZ rose; The decline of leading coins and the rise of established coins both indicate the end of the short-term market, and the market will enter a period of volatility, waiting for the emergence of a new narrative.

### Mainstream Coins
BTC once broke through $93,900 and continued to set a new historical high but has now slightly fallen to around $91,500. BTCD reached 59.2% and is still at a historical high. When BTCD drops significantly, it is the performance moment of altcoins;

ETH fell below $3,100 and is still in a narrow range of fluctuations. ETH still needs to wait for BTC to break through its historical high before it can have independent price performance;

Altcoins generally declined, and the market lacks a sustained narrative. AI memes still perform well.

## Macro news: US stock market slightly fell, Nvidia will announce financial report today
The three major indexes of the US stock market fluctuated, with the S&P 500 index rising 0.40% to 5,916.98 points; The Dow Jones Industrial Average fell 0.28% to 43,268.94 points; The Nasdaq index rose 1.04% to 18,987.47 points. The benchmark 10-year Treasury yield is 4.39%, while the 2-year Treasury yield, most sensitive to the Federal Reserve policy rate, is 4.27%.

Nvidia will announce its third quarter financial report after local time on Wednesday. Nvidia is considered one of the most dominant stocks in the US stock market, and its financial performance has attracted global market attention. Bank of America Securities strategists predict that Nvidia's earnings may pose a greater risk to the S&P 500 index than the next nonfarm payroll data, CPI, or Federal Reserve meeting.

According to Bloomberg, Trump Media Technology Group, a subsidiary of Trump, is in talks to acquire digital asset platform Bakkt Holdings Inc. Other developments include the initial listing of iShares Bitcoin Trust ETF (IBIT) options under BlackRock on the NASDAQ exchange on Tuesday local time. IBIT is currently the largest Bitcoin spot ETF in terms of size.

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<div>Author:**Icing**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions. All investments carry inherent risks; prudent decision-making is essential.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
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