Bitcoin reached $ 68,564.40, while Ether, the second cryptocurrency by market value, reached $ 4,842.65. Both cryptocurrencies have doubled in value since June.
Momentum in the market has been building since a bitcoin futures exchange-traded fund was launched in the United States last month, opening up the possibility for more mainstream investors to enter the world of digital currencies.
“The rise in the price of BTC (bitcoin) is nothing more than confirmation of an incredibly strong market setup that has been unfolding throughout October,” said Mikkel Morch, CEO of crypto and digital assets hedge fund ARK36.
So far in 2021, inflows to bitcoin products and funds have reached a record $ 6.4 billion, according to data from digital asset manager CoinShares, as investors bought the cryptocurrency thanks to increased acceptance. government and its rise in the markets.
Inflows to bitcoin totaled $ 95 million last week, representing the largest inflow among all digital assets, while in eight weeks of increases, the cryptocurrency attracted $ 2.8 billion, according to published CoinShares data. on Monday.
Overall, cryptocurrency products and funds saw inflows of $ 174 million, according to data as of Nov.5, in a twelfth consecutive week of positive inflows from institutional investors.