Bitfinex Alpha: Market interest in Bitcoin is reaching mainstream asset levels

Odaily Planet Daily Report: Bitfinex released a report, which pointed out that a major transformation occurred in the coin market last week, with the price reaching a historical high of $93,318 and a market capitalization of $1.8 trillion. has surpassed silver and become the eighth-largest asset in the world by market capitalization. This surge not only represents the strongest 9-day rally for coin since January 2021, but it is also likely the largest short-term capital inflow into any asset class in history. This momentum indicates that people's interest in coin is reaching the level typically only seen for mainstream assets. The assets under management of the coin ETF traded in the US have reached $84 billion, which is equivalent to 66% of the total assets under management of gold ETFs. Investor enthusiasm has recently cooled, which is a healthy phenomenon, with a net outflow of about $640 million reported in the last two trading days of the week. This flow is not expected to continue. With the increase in institutional capital inflows and ETFs capturing market share at a faster pace, the trajectory of coin appears poised for further long-term appreciation and may potentially reshape the balance of capital allocation in the coming years.