Is the crypto market back on the upswing? Institutions and whales started buying again!

study time:2minutes

The digital currency market today has a positive and bullish atmosphere, and a large part of cryptocurrencies have experienced price increases. According to available data, the total value of the crypto market has reached $2.99 ​​trillion, indicating a gradual improvement in investor sentiment. Bitcoin has gained about 0.74% in the last 24 hours and is now trading in the range of $88,365. The price of ethereum is also in line with the general trend of the market, with a growth of 1.74%, reaching around $2,927 and showing signs of strengthening demand.

Next, we take a look at the most important news and developments in the crypto market today:

The influx of capital into cryptocurrency spot ETFs has once again attracted the attention of the market. These funds witnessed capital inflows on January 26 and showed signs of a gradual return of institutional demand. Meanwhile, Ethereum ETFs had the largest share by attracting $116.99 million. Bitcoin ETFs also recorded $6.84 million in inflows, which could be a sign of easing selling pressure. In the altcoins market, Solana and Ripple ETFs attracted 2.46 million and 7.76 million dollars, respectively; A matter that shows that institutional interest is not limited to Bitcoin and Ethereum.

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In the meantime, Tom Lee, CEO of Bitmine and a well-known analyst, believes that the recent jump in gold and silver has diverted investors’ attention from the crypto market for the time being, but the fundamentals of this market are strengthening. According to him, financial institutions are preparing their infrastructure to develop on Ethereum and smart blockchains; A factor that can help return the upward trend in the medium term.

In this regard, Bitmine continues to accumulate 40,302 more units of Ethereum. On the other hand, Michael Silver’s Strategy Company also added another 2,932 bitcoins to its reserves.

In the meantime, Binancecoin has not been left out of the attention of institutions and with the listing of the new BNB exchange-traded product (ETP) by Virtune on Nasdaq, it has once again become an attractive option for institutional investors; A move that can support the price of this token in the medium term.

At the international level, reports also indicate the possibility of launching the first crypto ETFs in Japan by 2028. It is said that companies such as Nomura and SBI Holdings are at the forefront of these offerings; An issue that can be a turning point for the institutional acceptance of cryptocurrencies in Asia.