The cryptocurrency market is correcting after the weekend surge, which saw Bitcoin (BTC) rally to a new all-time high. The flagship cryptocurrency crossed $125,000 and set a new all-time high of $125,559 before correcting and moving to its current level. BTC is down nearly 1% over the past 24 hours, trading around $123,949. Meanwhile, Ethereum (ETH) briefly crossed $4,600 on Sunday as markets surged before correcting and moving to its current level of $4,567, a marginally lower position over the past 24 hours. 

Ripple (XRP) crossed $3 over the weekend, reaching an intraday high of $3.06 on Sunday before moving to its current level. Dogecoin (DOGE) followed a similar trajectory but is down over 2%, trading around $0.257. Meanwhile, Solana (SOL) is down over 1% after reaching an intraday high of $236 on Sunday. Cardano (ADA) is down over 3%, while Chainlink (LINK) is down almost 3%. Stellar (XLM), Hedera (HBAR), Litecoin (LTC), Toncoin (TON), and Polkadot (DOT) have also registered notable declines. 

Spot Bitcoin ETFs Register Second-Highest Weekly Inflows 

U.S.-listed Bitcoin ETFs registered $3.2 billion in inflows last week, the second-largest weekly inflows since their launch in January 2024. The jump was due to renewed investor interest as prices reached record highs. According to data from SoSoValue, only the week ending November 22, 2024, registered higher inflows. The recovery reversed the previous week’s $902 million in outflows. As expected, BlackRock’s iShares Bitcoin Trust (IBIT) dominated the inflows with $1.8 billion, followed by Fidelity’s FBTC with $692 million. 

Trading activity heavily favored IBIT, which saw billions worth of shares exchanged daily. Analysts note that IBIT has become the preferred vehicle for institutional participation. The US government shutdown has seen investors pivot heavi

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Author: Amara Khatri