Bitcoin's Big Moment: $100K in Sight as ETFs Boom

Bitcoin is getting closer to hitting $100, 000, with its price reaching $99, 645 on November 22. However, it hasn't been able to push past this milestone yet. Recently, Bitcoin had a brief dip to around $92, 500 but has since bounced back to around $96, 000. This recent rise is thanks to increased interest in spot Bitcoin ETFs. After some outflows on November 25 and 26, these ETFs saw big inflows on November 27 and 29, totaling $103 million and $320 million, respectively.

BlackRock's iShares Bitcoin Trust and Fidelity's Wise Bitcoin Origin Fund led the way with $137 million and $106 million inflows. This new enthusiasm for spot Bitcoin ETFs is helping Bitcoin get closer to the $100, 000 mark. Other cryptocurrencies like XRP are also doing well. XRP hit its highest level since May 2021, reaching $2. 44 on Monday morning. This is due to rumors about a possible XRP exchange-traded fund (ETF). WisdomTree registered an XRP ETF in Delaware, and the European XRP ETP was rebranded as the Bitwise Physical XRP ETP. Hedera, a platform for decentralized apps, is also booming. Canary Capital filed to launch an HBAR ETF with the SEC. If approved, this ETF would make it easier for investors to get into Hedera's cryptocurrency. Hedera's price has grown by 75% over the past week, showing how excited people are.

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