Crypto Asset Funds Continue to See Massive Inflows
Crypto asset investment products saw inflows of $176 million, marking the 8th consecutive week of institutional buying. This is a positive sign, fueling the sentiment in the crypto market. Bitcoin remains a top choice, with significant inflows amid speculations about spot Bitcoin ETF approval. In contrast, the buying of short Bitcoin decreased compared to previous weeks. However, Ethereum, Solana, Cardano, and XRP continue to attract inflows. Solana, Ethereum, and Avalanche were the most notable in terms of inflows.
Key Factors Impacting Crypto Sentiment
Despite a recent selloff, crypto investors remain cautious. The price of BTC saw a 2% jump after a pro-Bitcoin candidate won the election in Argentina. The trading volume has also increased significantly, indicating heightened interest among traders. The upcoming FOMC Minutes is an important event to keep an eye on this week, as it could impact the market.
Author’s Analysis and Disclaimer
As an experienced professional in the Fintech sector, Varinder has a positive outlook on the potential of innovative future technologies. However, it’s crucial to conduct your own market research before making any investment decisions, as the market conditions are subject to change. Varinder and the publication do not hold any responsibility for any personal financial losses incurred by the readers.
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