Bitcoin Saw $104 Million Inflows Last Week, Marking 4-Week Run Of Improving Sentiment
Key Points:
- Digital asset investment products saw inflows of $114m last week, with $104m allocated to Bitcoin.
- Bitcoin’s inflow is believed to be a flight to safety by investors fearful of ongoing traditional finance challenges.
- Little activity was observed in altcoins except for Polygon, which saw $2.1m of outflows last week.
According to recent data published by CoinShares, digital asset investment products experienced inflows reaching $114 million last week, with $104 million allocated to Bitcoin.
This marks a four-week run of inflows now totaling $345 million, indicating continued improving sentiment for the asset class. These inflows have almost fully corrected the prior six-week outflow run totaling $408 million. Regionally, inflows were seen across most geographies, but predominantly in the US and Germany with inflows of $58 million and $35 million, respectively.
Interestingly, these inflows come at a time of very low volumes in the Bitcoin market, averaging just $5.6 billion per day compared to $12 billion for the full year. Despite the low volume, Bitcoin has been almost the sole focus for investors with inflows of $104 million last week, bringing its total four-week run to $310 million. Investors fearful of the ongoing traditional finance challenges believe this is a flight to safety. However, opinion remains divided, with short Bitcoin seeing inflows totaling $14.6 million last week.
In contrast, despite the successful launch of Ethereum’s yield features (Shapella), only $0.3 million of inflows were seen last week. Little activity was observed in altcoins except for Polygon, which saw $2.1 million of outflows last week. Blockchain equities saw inflows of $5.8 million last week, and recent price appreciation has pushed total assets under management to $1.9 billion, the highest since October 2022, pre-FTX.
This data suggests that investors are still primarily focused on Bitcoin with only a few other digital assets seeing significant inflows. It remains to be seen if this trend will continue as the market evolves and new opportunities arise.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Thana
Coincu News
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Bitcoin Saw $104 Million Inflows Last Week, Marking 4-Week Run Of Improving Sentiment
Key Points:
- Digital asset investment products saw inflows of $114m last week, with $104m allocated to Bitcoin.
- Bitcoin’s inflow is believed to be a flight to safety by investors fearful of ongoing traditional finance challenges.
- Little activity was observed in altcoins except for Polygon, which saw $2.1m of outflows last week.
According to recent data published by CoinShares, digital asset investment products experienced inflows reaching $114 million last week, with $104 million allocated to Bitcoin.
This marks a four-week run of inflows now totaling $345 million, indicating continued improving sentiment for the asset class. These inflows have almost fully corrected the prior six-week outflow run totaling $408 million. Regionally, inflows were seen across most geographies, but predominantly in the US and Germany with inflows of $58 million and $35 million, respectively.
Interestingly, these inflows come at a time of very low volumes in the Bitcoin market, averaging just $5.6 billion per day compared to $12 billion for the full year. Despite the low volume, Bitcoin has been almost the sole focus for investors with inflows of $104 million last week, bringing its total four-week run to $310 million. Investors fearful of the ongoing traditional finance challenges believe this is a flight to safety. However, opinion remains divided, with short Bitcoin seeing inflows totaling $14.6 million last week.
In contrast, despite the successful launch of Ethereum’s yield features (Shapella), only $0.3 million of inflows were seen last week. Little activity was observed in altcoins except for Polygon, which saw $2.1 million of outflows last week. Blockchain equities saw inflows of $5.8 million last week, and recent price appreciation has pushed total assets under management to $1.9 billion, the highest since October 2022, pre-FTX.
This data suggests that investors are still primarily focused on Bitcoin with only a few other digital assets seeing significant inflows. It remains to be seen if this trend will continue as the market evolves and new opportunities arise.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Thana
Coincu News
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