Americas Crypto Market Update: Bitcoin ETFs and Novel Tokens Regain Traction

By Omkar Godbole (All times ET unless specified otherwise) The crypto market, including Bitcoin (BTC) at $86,817.46 and Ether (ETH) at $2,837.03, is experiencing renewed downward pressure. This shift reverses some of the gains made following Federal Reserve Chairman Jerome Powell's comments downplaying concerns over tariff-driven inflation. President Donald Trump is scheduled to address the Blockworks' Digital Asset Summit in New York. Traders are eager to learn about the administration's plans for acquiring BTC in a budget-neutral manner, although such an announcement is considered unlikely. A more probable scenario is Trump reiterating his goal to establish the United States as a global crypto hub, which could still significantly impact the market. On a positive note, interest in U.S.-listed spot ETFs is rising, supporting market resilience. Bitcoin ETFs saw a total net inflow of $11.8 million on Wednesday, marking the fourth consecutive day of positive flows, according to data from Farside Investors. In contrast, Ether spot ETFs recorded a net outflow of $11.7 million, extending the streak of withdrawals to 11 days. "Several factors continue to support a bullish outlook," notes Blockhead Research Network. "The U.S. government's exploration of budget-neutral ways to accumulate bitcoin could be a significant factor in this cycle. Additionally, the addition of Solana futures to the CME is a major bullish indicator for altcoins, potentially increasing institutional exposure to SOL." Data from IntoTheBlock shows that whales now hold approximately 62,000 more BTC than at the beginning of the month, indicating a resurgence in accumulation after nearly a year of declining balances. XRP whales have also been purchasing over the past two months. The SUI token has remained stable, looking to build on its Wednesday gains after Canary Capital Group, an institutional crypto trading and management firm, filed for a Sui exchange-traded fund (ETF) with the SEC. In broader market news, the emergence of a domain claim page for Hyperlane, an open interoperability framework, has sparked speculation about a potential token airdrop on social media. Traditional markets provided mixed signals, with the dollar-yen facing a death cross pattern, hinting at a significant surge ahead in the Japanese currency, seen as an anti-risk holding. Meanwhile, copper approached a record high, a positive sign for risky assets. Stay alert! Key Points to Watch: Token Events Conferences Token Talk By Shaurya Malwa Derivatives Positioning Market Movements: Bitcoin Statistics: Technical Analysis Crypto Equities ETF Flows Spot BTC ETFs: Spot ETH ETFs Source: Farside Investors Overnight Flows Chart of the Day While You Were Sleeping In the Ether