As the US-Iran war enters its fifth week, statements from both sides are affecting oil and Bitcoin ($BTC) prices.
After Trump stated that he had spoken with Iran and that Iran had abandoned its plan to attack energy facilities, the price of Bitcoin ($BTC) rose above $71,000.
Iran’s denial of talks with the US caused the Bitcoin price to drop to around $70,000, while Coinshares released its cryptocurrency report stating that there was a $230 million inflow last week.
“Weekly inflows into cryptocurrency investment products fell to $230 million, marking a significant slowdown compared to previous weeks.”
CoinShares stated that investor sentiment weakened following the US interest rate decision and the FOMC meeting, with the market interpreting the Federal Reserve’s stance as hawkish. The company noted that while strong inflows were observed at the beginning of the week, outflows occurred after the FOMC announcement.
Bitcoin ($BTC) Remains Positive!
Looking at crypto funds individually, inflows were seen in Bitcoin. Bitcoin experienced an inflow of $219 million, while Ethereum (ETH) saw an outflow of $27.5 million.
Looking at other altcoins, XRP saw $2.9 million in inflows, Solana (SOL) $17 million, Sui (SUI) $1.5 million, and Chainlink (LINK) $4.6 million.
“Bitcoin led the way in inflows last week with $219 million.”
Solana saw another $17 million in inflows in its 7th week, bringing its total inflows to $136 million, making it one of the most popular cryptocurrencies recently.
In contrast, Ethereum experienced $27.5 million in outflows, ending a three-week streak of inflows. Chainlink and Hyperliquid also saw inflows of $4.6 million and $4.5 million, respectively.
Looking at regional fund inflows and outflows, the US ranked first with an inflow of $153.7 million.
After the US, Germany saw inflows of $30.2 million, Switzerland $27.5 million, and Canada $9.3 million.
*This is not investment advice.
Leave a Reply
You must be logged in to post a comment.