Bitcoin (BTC) has performed remarkably over the past week, surging 30% since the November 5 US election. The flagship crypto surpassed its March all-time high (ATH), recording a new high nearly every day for the last seven days. Bitfinex analysts noted that the market remains \u201crelatively stable\u201d despite increased speculative activity.<\/p>\n
Following Donald Trump\u2019s victory<\/a> last Tuesday, the crypto market has seen a massive rally, surging to a market capitalization of $3.05 trillion. Bitcoin has led the post-election bullish run with a 30% price increase, nearing the $90,000 mark earlier today.<\/p>\n According to Bitfinex Alpha report<\/a>, the rally \u201chighlights the positive reaction to the election outcome, with investors positioning themselves for potential economic stimulus and regulatory shifts.\u201d<\/p>\n During the March highs, BTC\u2019s realized profit volume reached its peak of $3.1 billion. Since then, realized profit volumes have gradually decreased, \u201creaching an equilibrium.\u201d<\/p>\n As the report noted, there\u2019s been a reset in supply and demand forces, which indicates, alongside the recent price surge, that \u201cthe market is now pricing in a higher \u2018fair value\u2019 for Bitcoin.\u201d At the same time, the cryptocurrency continues its price discovery.<\/p>\n Moreover, profit-taking above $70,000 has been significantly smaller than the past instances when Bitcoin traded above this range, despite a structural increase in profit-taking.<\/p>\n Bitfinex analysts consider this to signal the \u201centry of a new wave of demand into the market,\u201d backed up by Spot Bitcoin exchange-traded funds (ETFs) buying post-elections. Additionally, it suggests that fresh investor interest \u201ccould drive further upward momentum in the near term.\u201d<\/p>\n The report highlighted record-breaking BTC ETFs\u2019 inflows, around $2.28 billion in three days. This performance represented a significant increase from the pre-election de-risking, which saw the crypto-based investment products record their second-largest single-day outflows.<\/p>\n According to CoinShares data<\/a>, Bitcoin ETFs closed the US election week with $1.8 billion in inflows and started this week with $1.1 billion in positive net flow. This performance displays a resurgence in demand for the flagship crypto as the market adjusts to BTC\u2019s new price levels.<\/p>\nBTC Enters \u2018A New Phase\u2019<\/h2>\n