Bitcoin Surges Past $109,000, Crypto Market Rebounds

1. Strong Recovery in the Crypto Market

The cryptocurrency market has experienced a strong recovery as Bitcoin (BTC) surpassed $109,000, nearing its all-time high, and Ethereum (ETH) rose close to $2,600. This price surge is driven by significant capital inflows into crypto ETFs and increased confidence from institutional investors.

2. ETF Inflows and Institutional Investor Interest

According to a report from SosoValue, inflows into Bitcoin ETFs have reached nearly $50 billion, indicating growing interest from mainstream investors in cryptocurrencies as legitimate assets.

3. Ethereum and Altcoins Follow Suit

Ethereum (ETH) rose 5.8%, reaching close to $2,600, supported by ETF inflows and growing institutional interest. Other altcoins like XRP, Solana, and Dogecoin also saw gains ranging from 3% to 7%, reflecting positive sentiment across the market.

4. Market Outlook and Influencing Factors

Factors such as the trade agreement between the US and Vietnam, easing of chip software export restrictions to China, and expectations of Federal Reserve interest rate cuts have contributed to the positive sentiment in the crypto market.