Bitcoin appears to have hovered in a narrow range over the past few days but it has managed to pull off a stunning 86% rally since the beginning of the year. The inflows over the past week are indicative of the fact that the world’s premier crypto asset continues to remain the primary focus of investors.
that digital asset investment products saw a second week of inflows clocking in $125 million. This essentially brought the last two weeks of inflows to $334 million, representing nearly 1% of total assets under management . Investors focussed particularly on Bitcoin as it witnessed a whopping $123 million in weekly inflows. Interestingly, the inflows of the last 2 weeks represented 98% of all digital asset flows.Short-bitcoin investment products did not enjoy the same fate and instead recorded $0.9 million of outflows during the same period. It’s the 10th week of outflows in these products which indicated that investors remain confident of BTC’s price trajectory ahead of the halving event.
In the case of XRP, the weekly inflows are positive at $0.4 million. The monthly and yearly numbers are substantially more impressive, standing at $2.8 million and $6 million for the first half of 2023.. Such a trend is crucial in determining the big picture as high-profile entities actively look for long-term investment opportunities in the leading digital asset and are not focused on price fluctuations.
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