🚀 Crypto Alert - 11/9/2024

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Bitcoin has just reached a new all-time high, soaring past $79,700 and sparking bullish momentum across the broader crypto market. Read on to discover what’s driving Bitcoin’s surge and check out today’s trending cryptocurrencies.

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Why is Bitcoin on the Rise? ETF Inflow Signals Big Demand

Bitcoin is making headlines again, and this time it’s driven by some serious action in the ETF market. Yesterday, Bitcoin-focused ETFs hit a new record with daily inflows reaching $1.36 billion—a significant leap from the previous record of $1.14 billion back in March. What’s remarkable is that one fund, BlackRock’s $IBIT, accounted for nearly all of that previous record, showing the weight some major players are bringing into the space.

But here’s the kicker: while around 450 new Bitcoin are mined daily, yesterday’s demand from the ETFs alone was close to 18,000 Bitcoin. That’s about 40 times the daily supply coming into the market. This dynamic of soaring demand versus limited new supply is pushing Bitcoin’s value higher, and fast.

Currently, the Bitcoin ETFs collectively hold around $25.5 billion in inflows. With demand outpacing supply, we could be on the brink of seeing even more growth in Bitcoin’s price as more institutions continue to pour in.

Top Gaining Altcoins (Past 24 Hours): November 9th, 2024 at 10:00 PM PST

• Cardano (+35%)

• Sui (+25%)

• Dogecoin (+12%)

Small Market Cap Altcoins We Are Tracking

• Dypius (DYP)

• Assemble Protocol (ASM)

• Marinade (MNDE)

With markets turning bullish, we’re planning to send updates and alerts more frequently. Stay tuned to make the most of what could be one of the greatest crypto bull runs in history.

Epic Crypto News Team

DISCLAIMER: This newsletter is for educational purposes only. Nothing here is financial advice. Do your own research before making any investment decisions. Crypto markets are volatile and risky. Only invest what you can afford to lose.