Bitcoin
Bitcoin and Cardano Soar with 716% Increase in Fund Flows by U.Today
U.Today – In CoinShares’ latest weekly review of fund flows, digital asset investment products experienced a significant increase in inflows, totaling $932 million. This represents a 716% increase from the previous week’s $130 million.
The notable increase followed a lower-than-expected CPI report on Wednesday, with the last three trading days of the week contributing 89% of total inflows, indicating a renewed link between cryptocurrency prices and market expectations. interest rates.
(BTC) was the main recipient of these inflows, underscoring its position as the market’s leading cryptocurrency. Bitcoin ETFs saw inflows of $942 million during the week.
The absence of significant short interest in BTC suggests a positive outlook for investors. To date, Bitcoin investment products have accumulated $13.85 billion in inflows since the beginning of the year.
step into the spotlight
Among altcoins, several digital assets also saw notable entries. , Chainlink and Cardano (ADA) stood out with inflows of US$4.9 million, US$3.7 million and US$1.9 million, respectively.
Cardano’s inflows are particularly significant as there were no inflows the previous week but recorded almost $2 million this week. This brings the total investment in Cardano ETPs to $10 million for the year, reflecting increased investor interest in this asset.
On the other hand, it faced challenges with outflows totaling 23 million dollars. This bearish sentiment is linked to the uncertainty surrounding the SEC’s approval of a spot ETF, causing cautious investor behavior.
With substantial inflows into Bitcoin and Cardano last week, growing confidence among investors in these digital assets can be safely stated.