Analyst: Institutional demand supports the crypto market, the outlook for the alt season is still unclear
according to The Block, research analysts said that institutional demand continues to drive Bitcoin to maintain near historical highs, with the current trading price around $118,500. Ethereum, on the other hand, has surged to $3,761, benefiting from more and more companies adding ETH to their treasury reserves and record inflows into ETFs. Presto Research analyst Min Jung pointed out that although Bitcoin's dominance has dropped to 61%, the current bull market is mainly driven by institutions, and it is uncertain whether this strength can extend beyond the widespread altcoin market outside of large "dinosaur coins." LVRG Research head Nick Ruck added that the current bull market cycle is attributed to corporate treasuries adding Ethereum and a few major altcoins, as well as traditional financial companies further integrating DeFi trends through RWA tokens and stablecoins.
Many places warn of the risk of illegal fundraising with virtual currency
recently, the billion-dollar fund scam called "Xin Kang Jia" with a claimed "daily interest rate of 2%" collapsed, causing the entire society to pay attention to and be vigilant against new types of online fraud. Intensive regulatory "whistleblowing", according to incomplete statistics, since July, financial regulatory authorities in many places including Guangdong, Yunnan, Hunan, Liaoning, Heilongjiang, Zhejiang, Fujian and other places have issued intensive warnings about illegal fundraising risks and new types of online fraud risks under the name of "virtual currency".