The new week began with gains for Bitcoin (BTC) and altcoins, as the US-Iran conflict continued.
Bitcoin briefly rose above $74,000 but later gave back some of its gains, falling back to around $73,000.
While Bitcoin’s recoveries continue to be short-lived, Coinshares has released its cryptocurrency report, stating that there was a $1.06 billion inflow last week.
“Cryptocurrency investment products recorded inflows of $1.06 billion for the third consecutive week, highlighting their resilience during geopolitical tensions and reinforcing Bitcoin’s role as a relative safe haven.”
Bitcoin (BTC) Takes the Lead!
Looking at crypto funds individually, it was observed that inflows were mainly in Bitcoin.
Bitcoin saw inflows worth $793.4 million, while Ethereum (ETH) experienced inflows of $315.3 million.
Looking at other altcoins, XRP experienced an outflow of $76.1 million, while Solana (SOL) saw an inflow of $9.1 million, Sui (SUI) $3.1 million, and Chainlink (LINK) $2.7 million.
“Bitcoin accounted for 75% of total inflows, reaching $793 million, and three-week inflows totaled $2.2 billion.”
This is approaching the $3.0 billion in outflows seen in the previous five-week period.
Ethereum also saw significant inflows totaling $315 million, and total inflows since the beginning of the year have approached a net-neutral position, partly due to the launch of new staking ETF listings in the US.
XRP experienced outflows of $76 million in its second consecutive week.
Looking at regional fund inflows and outflows, the US ranked first with an inflow of $1.02 billion.
After the US, Hong Kong saw inflows of $23.1 million, Canada $19.4 million, and Switzerland $10.4 million. In contrast, Germany experienced outflows of $17.1 million.
*This is not investment advice.