Record Bitcoin ETF Inflows, New BTC ATH, and Ethereum's Dencun Update Goes Live: This Week's Crypto Roundup

As bitcoin's fourth halving approaches and is about a month away, the price of the leading cryptocurrency experienced something that hasn't happened before: recording a new all-time high before that significant event.

In fact, that happened last week but it only intensified over the past few days. The weekend went as it usually does, quietly, as the asset had calmed down around $69,000.

This Monday, however, mimicked the previous one in terms of daily gains, and btc soared to almost $73,000 to record another all-time high. The bears quickly intervened and pushed the cryptocurrency lower almost immediately, and it fell to below $69,000.

However, the bulls quickly returned to the scene and fueled another bullish move, resulting in a new all-time high of nearly $74,000. This meant that btc's year-to-date gains had soared to over 60%.

However, this is where another pullback came, perhaps driven by investors cashing out some profits. In just a matter of hours, bitcoin plummeted approximately $8,000 and fell to a weekly low of less than $66,000.

Despite regaining some ground now, its dominance over alts has taken a hit and is now below 49.5%. Its market capitalization, which had surpassed that of silver earlier this week, has also declined to $1.344 trillion in CG.

At the same time, several altcoins rose and fell following btc's price movements, but some, such as SOL, BNB, AVAX, and TON, have produced double-digit weekly increases that took them to multi-year peaks.

Market data

Market capitalization: $2.72 trillion | Vol. 24H: 258 billion dollars | btc dominance: 49.3%

btc: $68,632 (+0.5%) | eth: $3,673 (-6.9%) | BNB: $570 (+20.9%)

This Week's crypto Headlines You Can't Miss

ethereum Dencun Upgrade Goes Live on Mainnet: Promises Lower Fees and Improved Scalability. Perhaps the biggest non-bitcoin news this week came from ethereum, as the second-largest blockchain finally released its biggest update since the merger on Wednesday. Dubbed Dencun, it aims to reduce fees while improving scalability.

Craig Wright is not Satoshi Nakamoto, UK judge rules (Report). After about a decade of claiming that he is Satoshi Nakamoto, the anonymous creator of the bitcoin network, Craig Wright was dealt a blow by a UK judge who reportedly ruled that he is not.

bitcoin Spot ETFs See Record Daily Inflow of $1.05 Billion as btc Surpasses $73K. bitcoin spot ETFs have attracted billions of dollars in their two months of existence, and this week they also recorded an ATH in terms of daily inflows. On Tuesday alone, more than $1 billion went into these types of financial products in the United States, with BlackRock's IBIT taking in the lion's share.

How is this bitcoin (btc) bull run different from all the previous ones? (Pre-halving analysis). As mentioned above, btc's current bull run is quite different from previous ones because its price recorded a new ATH before the halving. You can learn more about how this could benefit or hurt the asset in the coming months here.

Why did ARK Invest sell $150 million worth of Coinbase (COIN) shares in one week? In an attempt to rebalance its portfolios for some of its ETFs, Cathie Wood's ARK Invest sold more than $150 million worth of Coinbase (COIN) shares in the span of about a week. The company had accumulated substantial portions of the stock's stock in recent months.

MicroStrategy buys another 12,000 btc after raising more than $800 million with convertible notes. MicroStrategy is at it again with another massive bitcoin purchase worth just over $800 million. The largest corporate holder of the leading cryptocurrency raised funds by selling convertible notes for its latest wave of btc accumulation.

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This week, we have a chart analysis of ethereum, Ripple, Cardano, Solana and Binance Coin; Click here to see the full price analysis.

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