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Trump Inauguration Brings $2.2 Billion in Crypto Funds Flow, Creates New All-time High in AUM
As Trump prepares to take office, the crypto market has continued its upward momentum, fueled by speculation surrounding his presidency. Dubbed “the crypto president,” Trump’s influence has been felt throughout the entire cryptocurrency space since his election victory.
According to a recent report by CoinShares, major cryptocurrency funds managed by prominent players such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares witnessed an unprecedented $2.2 billion in net inflows over the past week, marking a fresh all-time high for this metric.
This surge is attributed to investors’ anticipation of forthcoming executive orders supporting cryptocurrencies during Trump’s early tenure. Some market enthusiasts believe that these potential policy changes may result in increased adoption and growth within the decentralized finance ecosystem.
Furthermore, sentiment surrounding the likelihood of an executive order creating a Strategic Bitcoin Reserve (SBR) has seen significant shifts over the past 24 hours. Polymarket data reveals that this probability has risen from 44% to 55%, with investors betting heavily on this possibility.
These developments have sent shockwaves throughout the crypto market, leading to a flurry of trading activity and significant price movements across various assets.
As the situation continues to unfold, many experts speculate that the true extent of Trump’s influence remains yet to be fully factored into prices. The implications of a potential SBR would likely result in further substantial gains for bitcoin, which has already reached over $109,000 in the past 24 hours.
With such an extraordinary amount of capital inflow and heightened expectations surrounding this presidency, it is crucial that investors remain cautious and conduct thorough risk assessments to navigate these volatile waters effectively.
Source: coinpedia.org
