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

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