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Analysis: Bitcoin Hits Three-Week High on ETF Inflows and Rate Cut Expectations

Summary: According to reports, Bitcoin surged to $110,279, hitting a three-week high, as inflows into Bitcoin ETFs continued and macroeconomic concerns eased. The US-Vietnam trade agreement and soft ADP employment data boosted expectations of a rate cut, boosting risk appetite. Institutional demand remains strong, with BlackRock's Bitcoin ETF and iShares' newly launched Ethereum ETF both seeing ...

According to reports, Bitcoin surged to $110,279, hitting a three-week high, as inflows into Bitcoin ETFs continued and macroeconomic concerns eased. The US-Vietnam trade agreement and soft ADP employment data boosted expectations of a rate cut, boosting risk appetite.

Institutional demand remains strong, with BlackRock's Bitcoin ETF and iShares' newly launched Ethereum ETF both seeing gains. Meanwhile, Ripple has applied for a US banking license, signaling an acceleration of crypto companies penetrating mainstream finance.

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