Unleash Wealth with Soaring BTC, ETH ETFs and

In early November, amidst the aftermath of the United States election, the crypto market witnessed a significant surge in confidence from investors. Bitcoin (BTC) and Ethereum (ETH) ETFs experienced record netflows, indicating a strong buying trend in the market. BTC recorded over 17k BTC bought, amounting to a total of 406k BTC netflows. On the same day, ETFs saw over 17.9k in netflows, marking the highest influx post the U.S. presidential elections. The increased ETF netflows pointed towards a confident market stance on BTC, with its price surging by nearly 10% and trading near its all-time high.

Following the rise in Bitcoin ETF netflows, attention shifted to Ethereum ETFs, which also saw a surge in netflows exceeding $56 million on the 7th of November. This influx marked one of the largest inflows since the inception of ETH ETFs, showcasing growing interest in the altcoin. Analysis of both BTC and ETH’s daily charts hinted at potential continued price hikes, with bullish indicators suggesting positive trends for both cryptocurrencies.

Meanwhile, Chainlink (LINK) emerged as a standout performer in the crypto market, registering a 28.16% price appreciation over the past month. LINK decoupled from other altcoins, outperforming them and breaching the $13.65 resistance level for the first time since July. The altcoin showcased strong demand and price performance, following Bitcoin’s surge to a new all-time high. A 3-month correlation of 0.72 between Chainlink and Bitcoin indicated a shared trend, with LINK exhibiting notable strength against BTC and other altcoins.

The recent momentum in Chainlink’s price was attributed to a surge in whale activity, with large holders accumulating significant amounts of LINK tokens. Whales increased their holdings by $369.8 million over the last 7 weeks, representing an 8.2% expansion in holdings. This accumulation signaled investor confidence in LINK’s long-term prospects, driving positive sentiment around the altcoin. The rise in large holders’ inflow and active addresses pointed towards sustained demand and participation, crucial for a price rally in the altcoin.

As a result of the uptick in whale activity and accumulation, Chainlink’s price surged by 6.86% in 24 hours, with gains of 21.07% and 28.16% on the weekly and monthly charts, respectively. The altcoin’s strong upward momentum and positive sentiment hinted at a potential push towards the $15 mark, with further resistance levels at $19. If prevailing market conditions persist, Chainlink could see a notable price breakout and continue its upward trajectory, maintaining its position as a top performer in the crypto market.

Links to the stories discussed: - Bizarre:-> What record inflows into BTC, ETH ETFs suggests about the market - Chainlink’s latest 3-month high could have THIS effect on LINK’s price