The cryptocurrency market has experienced a notable recovery following the recent inflation data release in the United States. Bitcoin 
$74,689 has managed to increase in value for five consecutive days, while Ethereum 
$2,029 has attracted substantial capital inflows. Despite the U.S. Securities and Exchange Commission’s (SEC) decision to postpone its rulings on certain ETFs, XRP and Solana 
$82 have also seen upward trends. The total value of the altcoin market has reached $1.73 trillion, marking the highest level in the past 90 days.
Strengthening Institutional Interest in Bitcoin and Ethereum
According to the latest report from QCP, Bitcoin regained strength after falling to $107,000 in September, achieving stability above this threshold. The consistent inflow into spot Bitcoin ETFs over five days has highlighted the growing interest from institutional investors. For Ethereum, last Friday marked significant inflows—the highest recorded over the last two weeks—indicating ongoing interest despite the SEC’s decision to delay its verdict on staking Ethereum ETFs.
Significant price increases have also been seen in XRP and Solana. With Franklin Templeton’s ETF application decisions delayed, the market has maintained positive expectations. QCP emphasized that Paul Atkins’ tenure as SEC chairman retained investor interest in the market despite regulatory uncertainties.
Altcoin Market on the Rise
The altcoin market has demonstrated noteworthy activity. CoinMarketCap’s Altcoin Season Index rose to 72, with the total market value of altcoins reaching $1.73 trillion. QCP suggests that capital inflow into altcoins could accelerate if Bitcoin’s price trends towards $120,000.
Macro-economic indicators remain under close scrutiny. Persistent inflation and weakness in the labor market pose significant risks to the Federal Reserve’s (Fed’s) approach to interest rates. Consequently, the direction of the cryptocurrency market continues to rely on Fed decisions, capital flows to existing ETFs, and upcoming decisions on pending ETFs.
