Capital Inflows Continue for Fourth Consecutive Week
CoinShares analysts have reported that there were capital inflows for the fourth consecutive week, with a total of $66 million invested between October 16 and October 22. The largest revenues were recorded in Switzerland ($45.5 million), Canada ($18.1 million), and Germany ($10.9 million). However, the United States experienced an outflow of $8.7 million.
Bitcoin-Related Products Dominate Inflows
The report highlights that 84% of the total inflows came from Bitcoin-related products, amounting to $16.4 million in the previous week and reaching $315 million since the beginning of the year. Additionally, investors continue to invest $1.7 million in structures that allow them to open shorts on Bitcoin.
Concerns Impact Ethereum, Altcoins Show Positive Growth
Continued concerns about Ethereum led to an outflow of funds from related products totaling $7.4 million. On the other hand, funds based on other altcoins saw positive dynamics, with Solana-based tools standing out at $15.5 million compared to $3.7 million the previous week. Investors have increased positions in Solana by $74 million since the start of the year.
Regional Variations in Investment Sentiment
Investment sentiment varies regionally, with minimal inflows to the United States and Europe accounting for $7 million last week.
Hot Take: Capital Inflows Continue, but at a Slower Pace
The crypto market has seen capital inflows for four consecutive weeks, although at a slower pace compared to previous significant events such as Blackrock’s announcement of launching a Bitcoin ETF. While Bitcoin-related products dominate the inflows, concerns about Ethereum have led to outflows. On the other hand, altcoins like Solana are experiencing positive growth. The regional variations in investment sentiment suggest that different regions have varying levels of interest and activity in digital assets. Overall, the consistent capital inflows indicate ongoing investor confidence in the crypto market.
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