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It seems that for BTC and ETH, good things come in pairs. As at the time of writing, BTC has managed to cleanly surpass its previous all-time high of $67k, extending its gains beyond $68k to settle on a new all-time high of $68.5k. If this momentum sustains, the largest cryptocurrency by market cap looks set to explore the uncharted territories of $70k and beyond sooner rather than later. This momentum can be mainly attributed to the continuous inflow of institutional capital into digital assets. Total institutional inflow hit a staggering $8.9 billion last week, bringing this year's running tally above the total institutional investment amount for the whole of last year. Of course, speculation regarding the final deliberation of the first BTC spot ETF might have also played a part in hyping up bullish sentiments. Not to be outdone, ETH, the second-largest cryptocurrency by market cap, has reached yet another all-time high of above $4,800. ETH's fundamentals are also looking strong, as the total value locked (TVL) in ETH Layer 2 protocols has topped a whopping $5 billion, with an increasing number of ETH addresses starting to make profits.
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