Ethereum, BTC, SOL, XRP See Record Inflows, Will the Bull Run Continue?

In a recent report, CoinShares showed a significant inflow of capital into Ethereum, Bitcoin, and other altcoins last week. The inflow of funds, especially into digital asset investment products, suggests positive market sentiment despite recent price weaknesses.

Let’s see if this large inflow signals a sustained bullish trend for the cryptocurrency market going forward.

Ethereum, Bitcoin and other cryptocurrencies see record inflows

Last week, digital asset investment products saw the fifth-largest weekly inflows on record, totaling $1.44 billion, CoinShares The increase brought year-to-date inflows to a staggering $17.8 billion, far exceeding the $10.6 billion recorded in 2021.

Despite the impressive inflows, trading volumes remained relatively low, at $8.9 billion for the week, compared to a seven-day average of $21 billion this year. Bitcoin led the charge with $1.35 billion in inflows, marking one of its largest weekly inflows.

In contrast, short-bitcoin products saw the largest weekly outflows since April, with investors withdrawing $8.6 million. The inflow into Bitcoin is likely due to a mix of factors, including the German government’s Bitcoin sales and a positive shift in sentiment due to lower-than-expected sales IPC

data in the United States

Meanwhile, Ethereum followed with $72 million in inflows, the highest since March. This increase is attributed to the anticipated approval of an Ethereum Spot ETF in the United States. altcoins also saw notable inflows, with Solana, Avalanche, Chainlink, and XRP receiving $4.4 million, $2 million, $1.3 million, and $1 million, respectively.

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Will the momentum continue?

The United States led regional inflows, contributing $1.3 billion last week. However, other regions also showed bullish sentiment. Switzerland saw record inflows this year, while Hong Kong and Canada followed with $58 million and $55 million, respectively.

CoinShares noted that the recent price weakness presents a buying opportunity for many investors. The substantial inflows of capital into Bitcoin and other digital assets indicate a strong belief in the long-term potential of the market. Furthermore, this sentiment, combined with regulatory developments and macroeconomic factors, suggests a possible continuation of the bullish trend.

Investors appear optimistic about the future of the cryptocurrency market, especially with the imminent approval of a Ethereum ETF

This week, if these trends persist, we could see continued growth and innovation in the digital asset space. However, market participants should remain cautious about potential regulatory changes and market volatility. Meanwhile, several analysts have also said that Bitcoin has already bottomed out.

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