NEW YORK / LONDON (IT BOLTWISE) – Despite significant outflows from Bitcoin ETFs, the crypto market is resilient. Bitcoin hits a new high of $111,000 as Ethereum prepares for a significant upgrade. Institutional interest and regulatory developments are driving prices.
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The crypto market is currently experiencing a remarkable recovery, led by Bitcoin and Ethereum. Despite significant outflows from US Bitcoin ETFs, interpreted as short-term profit-taking by institutional investors, Bitcoin has reached a new high of $111,000. This development is supported by JPMorgan’s announcement that it will accept Bitcoin and Ethereum as loan collateral, increasing investor confidence.
Ethereum is also seeing a rise as it prepares for the Fusaka upgrade scheduled for December 3, 2025. This upgrade will significantly improve the data processing capabilities and scalability of the network. The introduction of EIP-7594 (PeerDAS) and the increase in the block gas limit from 30 million to 150 million are key elements of this upgrade that could further increase interest in Ethereum.
Litecoin and XRP are also benefiting from growing institutional interest. The Canary Capital Litecoin Fund recently recorded inflows of nearly $486,000, indicating increasing confidence in Litecoin’s value. XRP, on the other hand, could soon benefit from a spot ETF after overcoming regulatory hurdles, which led to a rise in the XRP price.
Shiba Inu and Cardano are also joining the rally. Shiba Inu benefits from T. Rowe Price’s spot ETF announcement, while Cardano posts slight gains despite a 27% drop in trading volume. These developments are supported by a favorable regulatory environment, including a rate cut by the US Federal Reserve and the impending passage of a law structuring the crypto market by the US Senate.
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