Bitcoin consolidates seven-week winning streak, setting a new record for the longest weekly winning streak since 2021

Odaily Odaily reports that Aya Kantorovich, co-founder of the crypto platform August, said that many people "have built their expectations on a more favorable US government (crypto regulatory environment)". She added that this optimism is reflected in the demand for exchange-traded funds (ETFs) investing in digital assets. As of last Sunday, Bitcoin has consolidated a seven-week uptrend, which is the longest uptrend since 2021. However, the recent rally has slowed, which may indicate that "a correction may be imminent," wrote Tony Sycamore, market analyst at IG Australia Pty, in a report. Since Trump's victory in the presidential election on November 5, US ETFs directly investing in Bitcoin have attracted $12.2 billion in net inflows. During the same period, Ethereum-like products saw net inflows of $2.8 billion. (Bloomberg)