According to Bloomberg, Bank of America reported on Friday that cash became the biggest darling of funds last week, and cryptocurrency funds also attracted a large influx of funds. During the week ending December 4th, money market funds absorbed $136.4 billion, marking the largest weekly inflow since the banking turmoil in March 2023. It is worth noting that cryptocurrency funds received a capital inflow of $3 billion, with a total inflow of $11 billion over four weeks, reaching the highest level in history. This reflects a surge in investor interest in digital assets after Trump's election victory. Michael Hartnett, a strategist of Bank of America, pointed out that with the market value of Bitcoin exceeding $2 trillion, which is comparable to becoming the 11th largest economy in the world, the cryptocurrency market showed signs of "foam". Similarly, concerns about stock valuation have also been highlighted. 0 reply
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