Bitcoin surged past $61,000, continuing its upward momentum as markets anticipated remarks from the Federal Reserve's Jackson Hole symposium. This rally reflects growing investor optimism that the central bank may maintain a more dovish stance amid signs of a cooling economy. The cryptocurrency's recent performance has been bolstered by increasing institutional interest and the upcoming approval of multiple Bitcoin ETFs, which are expected to further drive demand.

Meanwhile, Ether ETFs have experienced a record streak of outflows, signaling a shift in market sentiment. Investors appear to be rotating out of Ether and into Bitcoin, possibly due to the latter's stronger performance and perceived stability. The outflows from Ether ETFs have now extended for several weeks, raising concerns about the sustainability of Ether's price rally, especially as regulatory uncertainties and competitive pressures from other blockchain networks persist.

The contrasting trends between Bitcoin and Ether highlight the current dynamics within the cryptocurrency market, with Bitcoin reaffirming its status as the dominant digital asset. As the market awaits further insights from Jackson Hole, traders will closely watch for any signals that could impact the Fed's future monetary policy, potentially influencing the broader crypto market.#EFTs #Write2ern #BitcoinTherapist #bitcoinnewsupdate