With Bitcoin nearing $100,000, significant purchases are also being made in Ethereum: record inflows for ETFs, $850 million in a week.
Weekly Record Inflows
The second operational week of December ends with RECORD-breaking buying inflows.
This is a highly positive conclusion, especially considering the opening on Monday, December 9. After witnessing a day of record liquidations, exceeding $1.7 billion across the entire sector, investors seized the opportunity to accumulate positions.
After finding a low around the $3,500 mark, Ethereum strongly recovered Monday’s decline, climbing back to the $3,900 area.
This growth was supported by a record-breaking week for Ethereum spot ETFs. Over the past five days, ETFs saw positive inflows of $854 million, surpassing the $836 million from the previous week.
This buying trend marks the fifteenth consecutive day of positive inflows, an unprecedented figure since July 23, the launch date of ETH spot ETFs.
A Challenging Week Against Bitcoin
Unlike December 5, the "crash" on Monday, December 9, affected the Altcoin sector more significantly compared to Bitcoin, including Ethereum.
Bitcoin’s dominance has climbed back above 57%, after reaching a low of 54.5%. Similarly, the ETH/BTC pair has lost a few percentage points, returning to a level of 0.038 from its monthly highs around 0.04.
This movement resembles what happened in December 2020, when Ethereum lost nearly 25% of its value compared to Bitcoin in the second half of the month, only to recover strongly at the beginning of the following year. From that moment on, Ethereum’s price skyrocketed, climbing from $730 on January 1 to $4,400 in May.
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By gue 22 🚀🌐