While Bitcoin, the leading cryptocurrency, has been consolidating at $ 29,000 for a while, investors are now expecting a rise from BTC.
At this point, Coinshares, which publishes its weekly cryptocurrency report, said that there was $29 million in entries last week.
“Crypto investment products saw $29 million in inflows this week, possibly due to the latest US inflation data, which was slightly below expectations, suggesting that a rate hike in September is less likely.”
Looking at crypto funds individually, it was seen that the majority of fund inflows were in Bitcoin.
BTC saw $27 million inflows last week, while the largest altcoin Ethereum (ETH) saw $2.5 million in.
In the Bitcoin Short fund, which was indexed to the fall of BTC, it was seen that there was an outflow of $ 2.7 million.
Looking at other altcoins, Solana (SOL) had $0.4 million, XRP $0.5 million, Litecoin (LTC) $0.1 million.
“Bitcoin was the primary focus, seeing inflows of US$27 million after a total exit of US$144 million in the previous 3 weeks.
XRP saw $0.5 million inflows.”
Looking at the regional fund inflows and outflows, it was seen that Canada ranked first with an inflow of 23.8 million dollars.
Switzerland is in second place after Canada with $7.9 million; USA took the third place with 0.9 million dollars.
Against these entries, Sweden is $2.4 million; Germany had an outflow of $1.3 million.
*Not investment advice.