CF Benchmarks views bitcoin as portfolio staple, projects $1.4 million price target by 2035

XRP exchange-traded funds (ETFs) have surpassed $1 billion in assets, driven by a notable inflow of traditional investor capital, according to CF Benchmarks CEO Sui Chung. This surge reflects a growing acceptance of XRP among institutional investors, highlighting its appeal in the cryptocurrency market.

Crypto markets experienced a significant downturn on Thursday, with XRP slumping as Bitcoin fell back to the $85,000 level after a brief surge above $89,000, following a softer-than-expected U.S. CPI report. This volatility reflects ongoing uncertainty in the cryptocurrency sector.

Polkadot's DOT token has experienced a 2% decline, occurring on trading volume that was 35% above its 30-day average. This drop follows a recent period of volatility in the cryptocurrency market, where investor sentiment has been fluctuating.

Filecoin's price fell by 1% after reaching an intraday high of $1.26, reflecting a sharp sell-off that has left the token trading lower on the day. This decline is part of a broader trend affecting the cryptocurrency market, where many assets are experiencing downward pressure.

Bitcoin's price has fallen back to $86,000, relinquishing gains made following the release of softer-than-expected inflation data. This decline reflects ongoing volatility in the cryptocurrency market, where Bitcoin has struggled to maintain its value amid bearish signals and increased selling pressure.

A recent report from CF Benchmarks forecasts that Bitcoin's price could reach as high as $2.95 million by 2035, driven by its increasing recognition as a store of value. This projection is based on market analysis that emphasizes Bitcoin's potential role in investment portfolios.

BONK has experienced a decline of 6.2% as heavy trading volume indicated a shift at key technical levels, leading to increased selling pressure near resistance points. This selling trend has accelerated, pushing the token back toward support levels after failing to maintain upward momentum.

In October, JPMorgan analysts indicated that investors anticipating currency devaluation would boost both precious metals and bitcoin. However, recent trends show that only precious metals have benefited from this speculation, leaving bitcoin behind as its value continues to decline.