BTC consolidates for seven weeks, creating the longest weekly rise record since 2021

Odaily Planet Daily News Agency reports that Aya Kantorovich, co-founder of the encryption platform August, said that many people “build their expectations on a more favorable U.S. government (encryption regulatory environment)”. She added that this optimism is reflected in the demand for investment digital asset exchange traded funds. As of last Sunday, Bitcoin has consolidated its seven-week uptrend, the longest since 2021. However, the recent uptrend has slowed down, which may indicate that a ‘pullback may be imminent’, wrote Tony Sycamore, a market analyst at IG Australia Pty, in a report. Since November 5th, after Trump’s victory in the presidential election, the U.S. ETF directly invested in Bitcoin has attracted a net inflow of $12.2 billion. During the same period, similar products for Ethereum saw a net inflow of $2.8 billion. (Bloomberg)