Ripple Labs' CEO, Brad Garlinghouse, has pointed out two significant elements steering the course of the cryptocurrency market. The primary driver appears to be the surge in Bitcoin exchange-traded fund (ETF) volumes. Secondly, the forthcoming event of Bitcoin halving has been stirring up a lot of anticipation in the cryptocurrency world. According to Garlinghouse, these two factors are positively impacting cryptocurrencies and showing a significant influence on market behavior. He further noted the crypto market's historic tendency to trail the trajectory set by Bitcoin - a consistently observed phenomenon among multiple market cycles.
Garlinghouse's statements highlight a transformative phase in the crypto market, propelled by groundbreaking events like the rise of Bitcoin ETFs and the impending Bitcoin halving. This points to a crucial role of real-world utilization and Bitcoin's influence in maintaining the excitement of the 'Crypto is Back' movement.
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