Cryptocurrencies are reclaiming ground today, with bitcoin breaking above $100k after CPI data from the US, bolstered bets on a dovish Fed and thus supported sentiment around risky assets. Bitcoin gains 4.11% today, while Ethereum adds 4.6%.
ETF data shows steady net inflows into Bitcoin spot funds. Source: XTB
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On the other hand, however, the data on Ethereum shows even more interest from institutional investors, which could mean that the bull market cycle is shifting from BTC to smaller cryptocurrencies. Source: XTB
Ethereum is making up for some of the losses quoted over the past two days, and thus is back in the $3800 region. The $4000 zone may remain one of the key support points for the cryptocurrency in the short term. Source: xStation
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