Bitcoin ($BTC) has climbed above $80,000 for the first time in a long while, and it is predicted that the markets could experience movement in either direction.
While investors are opting for caution, Coinshares has released its cryptocurrency report, stating that there were $117.8 million in inflows last week.
“Cryptocurrency investment products saw inflows of $117.8 million, marking the fifth consecutive week of positive growth.”
However, weekly total inflows mask four days of outflows that were reversed by a strong session on Friday.
Bitcoin ($BTC) Continues to Remain Strong!
Looking at crypto funds individually, inflows are concentrated in Bitcoin. $BTC experienced an inflow of $192.1 million, while the largest altcoin, Ethereum (ETH), saw an outflow of $81.6 million.
Looking at other altcoins, XRP saw a $3 million inflow, while Solana (SOL) experienced $11.1 million inflows, and Chainlink (LINK), Litecoin (LTC), and Sui saw minor outflows.
“Bitcoin saw inflows of $192.1 million, bringing total inflows since the beginning of the year to $4.2 billion.”
Ethereum saw outflows of $81.6 million, ending a three-week streak that had attracted over $190 million in inflows.
Looking at regional fund inflows and outflows, the US ranked first with an inflow of $47.5 million.
After the US, Germany ranked second with $43.8 million in inflows, while Canada came in third with $16 million.
In response to these inflows, Sweden, Italy, and the Cayman Islands experienced minor outflows.
*This is not investment advice.