As uncertainty surrounding the US-Iran war continues for Bitcoin ($BTC) and altcoins, Coinshares released its weekly cryptocurrency report, stating that there were $857.9 million in inflows last week.
“Cryptocurrency investment products saw inflows of $857.9 million. This marks the sixth consecutive positive week.”
Bitcoin ($BTC) Inflows Remain Strong!
Looking at crypto funds individually, inflows are concentrated in Bitcoin. $BTC experienced inflows of $706.1 million, while the largest altcoin, Ethereum (ETH), saw inflows of $77.1 million.
Looking at other altcoins, $XRP saw inflows of $39.6 million, Solana (SOL) $47.6 million, and Chainlink (LINK) $1.4 million.
“Bitcoin saw inflows of $706.1 million, bringing total inflows since the beginning of the year to $4.9 billion.”
Bitcoin short positions saw an outflow of $14.4 million; this was the largest weekly outflow of the year, indicating that hedging positions were being closed as confidence in the bullish trend increased.
Ethereum reversed its previous week’s outflow of $81.6 million, recording an inflow of $77.1 million.
Solana saw inflows of $47.6 million, while $XRP recorded $39.6 million. Both showed remarkable momentum compared to recent activity.
Looking at regional fund inflows and outflows, the US ranked first with an inflow of $776.6 million.
After the US, Germany ranked second with $50.6 million in inflows, while Switzerland came in third with $21.1 million.
In response to these inflows, Sweden experienced a small outflow of $2.2 million.
*This is not investment advice.
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