Bitcoin (BTC) and altcoins started the new week with the US-Iran conflict. Bitcoin fell to $63,000 over the weekend before recovering to around $66,000.
As market weakness and uncertainty persist, Coinshares released its cryptocurrency report, stating that it experienced $1 billion in inflows last week.
“Cryptocurrency investment products saw $1 billion in inflows, ending a five-week streak of $4 billion in outflows.”
“The decline in prices, technical resets, and the regrouping of large investors supported this trend.”
Bitcoin and Altcoins Relieved!
Looking at crypto funds individually, it was observed that inflows were mainly in Bitcoin.
Bitcoin saw inflows worth $881.5 million, while Ethereum (ETH) experienced inflows of $116.9 million.
Looking at other altcoins, XRP saw inflows of $1.9 million, Solana (SOL) $53.8 million, and Chainlink (LINK) $3.5 million.
“Bitcoin was the top performing asset with inflows of $881 million.”
Ethereum also saw inflows totaling $117 million. This was the largest inflow since mid-January.
Both Ethereum and Bitcoin have remained in a net outflow position since the beginning of the year.
In contrast, Solana saw inflows of $53.8 million last week and $156 million since the beginning of the year.
Chainlink saw a small inflow of $3.4 million, with no other significant outflows.
Looking at regional fund inflows and outflows, the US ranked first with an inflow of $957 million.
After the US, Canada saw inflows of $34.1 million, Germany $31.7 million, and Switzerland $28.4 million. In contrast, Sweden experienced small outflows of $3.3 million and France $1.2 million.
*This is not investment advice.
