As Bitcoin (BTC) 
$75,226 reaches $117,446, investors are experiencing a range of emotions; they may feel disappointed when the price drops to $110,000 but can rejoice as it surpasses $120,000. The volatile nature of cryptocurrency prices remains a constant, with the $30,000 mark having been an exciting threshold in 2023. As we close the final hours of this business week, last-minute analyses provide optimism fueled by recent data.
Crypto Bull Run
Since the beginning of the year, BTC has increased by over 25%, with many altcoins setting new records. For example, DOGE has once again surpassed $0.21, and XRP Coin is on the verge of exceeding $2.8. Demand in the ETF sector has reached enormous levels. Vivek recently noted on its astonishing growth.
“The BLACKROCK Bitcoin ETF has become the fastest-growing ETF, reaching $80 billion. This is insane!”
Comparing this with ETFs linked to gold and stock market indices, which took hundreds to thousands of days to achieve similar success, IBIT accomplished this feat in just 374 days. During the launch data release at the beginning of 2024, it was already anticipated that Bitcoin would have a stronger start compared to gold, challenging conventional expectations.
Analysts believe we are currently experiencing a unique phase unlike any other crypto bull period, characterized by unprecedented institutional demand.
ETH and XRP
Lark Davis, another analyst, is equally astonished by the ETF figures. Shortly before, he expressed his surprise, remarking on Ethereum 
$2,315’s historic day despite the spot price not yet closing above $3,000. For recovery in the ETHBTC pair, closing above $3,000 could pave the way for targets in the $3,522 and $4,000 range.
“Damn! ETH ETFs saw inflows exceeding $383 million yesterday. This is the highest daily inflow since December 5 and the second highest since launch. Absolutely crazy!”
With other altcoin ETF approvals anticipated around September, the influx of capital from professional investors could lead to significantly different market dynamics. In particular, altcoins with lower market caps may experience abnormal demand surges, potentially causing “ridiculous price” spikes. Seeing U.S. markets mirror the 2017 cryptocurrency tables will be intriguing. Back then, altcoins saw tenfold increase, enticing investors.
