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Bitcoin Ends Week with $375M Inflows as Multi-Asset Products Face $121M in Losses
The cryptocurrency market experienced a mix of inflows and outflows during the past week, with Bitcoin (BTC) seeing significant investment. According to the latest report by CoinShares, Bitcoin ended the week with net inflows of $375 million.
On the other hand, multi-asset products witnessed substantial losses, with a staggering $121 million in withdrawals. This marks a significant change from previous trends, as investors shift their focus towards more targeted investments.
The data suggests that Bitcoin remains resilient and continues to attract significant investment, despite recent price declines. In fact, short-bitcoin products recorded a meager $0.4 million in inflows, indicating a lack of interest among short-sellers.
On the altcoin front, XRP led the pack with $8.8 million in inflows, followed by Horizen at $4.8 million and Polkadot at $1.9 million. Other assets like Chainlink, Cardano, and Litecoin also received modest inflows of $1.7 million, $0.7 million, and $0.6 million respectively.
In terms of regional trends, the United States led the way with digital asset inflows of $567 million, followed by Brazil and Australia with $16.6 million and $10.2 million. However, other regions such as Switzerland recorded significant outflows of $95.1 million, accompanied by Germany and Canada with $74.7 million and $60.1 million.
It is worth noting that Ethereum (ETH) continues its positive streak, attracting a substantial $51 million in inflows. In contrast, Solana (SOL) faced a notable $8.7 million outflow during the same period.
The recent price volatility may have played a role in the significant shift towards more targeted investments, as investors seek to capitalize on specific market trends.
Source: cryptopotato.com
