CoinShares reported that crypto asset investment products saw inflows of $87 million in the past week even as the market continued to show signs of bearishness.
នេះ របាយការណ៍ found that the year-to-date crypto inflows surpassed the $500M mark with positive flows for the week ending May 27.
However, in the week prior, CoinShares had reported outflows of $141 million amid broader market weakness.
Bitcoin records positive flows
On the asset-specific front, now Bitcoin saw inflows of $69 million, bringing year-to-date inflows to $369 million. This comes soon after a heavy outflow of close to $154 million in the previous week for the top-traded cryptocurrency
Given Bitcoin’s seven-day low stands under $28,500. That said, as Bitcoin slid under the crucial level of $30,000 on several occasions, the total assets under management (AuM) are now at their lowest point since July 2021, the report highlighted.
However, Bitcoin has now risen almost 8% in the last 24 hours on កាក់ហ្គេកកូ, surpassing the price level of $31,700. But despite the recent recovery, crypto analyst CryptoCapo noted opined it is not sustainable in the short run of one to three months.
In addition, Analyst James Butterfill also remarked, “Short Bitcoin saw inflows totaling US$1.8m last week suggesting the market hasn’t completely shrugged off its bearish undertones.”
Ethereum witnesses negative flows in contrast to other alts
On the altcoin front, all major assets barring Ethereum clocked positive flows for the week. While Algorand ។ saw record inflows of $20 million, Ethereum’s weekly flows were in the red at $11.6 million and recorded net year-to-date outflows of $250 million.
However, Hayden Hughes, chief executive of social media trading platform Alpha Impact បានបញ្ជាក់ to Bloomberg on Monday, “We’re seeing heavy buying of Ether and several altcoins, and these patterns កញ្ចក់ what we saw in the July 2021 bear market bottom and the January 2022 local bottom.”
Altcoins ចូលចិត្ត សូឡាណា និង TRON brought inflows of $4.8 million, $1.8 million, and $0.4 million respectively.
Meanwhile, the cumulative មួកទីផ្សារគ្រីប stands at $1.37 trillion at the time of press.
ការមិនទទួលខុសត្រូវ
រាល់ព័ត៌មានទាំងអស់ដែលមាននៅលើគេហទំព័ររបស់យើងត្រូវបានផ្សព្វផ្សាយដោយស្មោះត្រង់និងសម្រាប់គោលបំណងព័ត៌មានទូទៅតែប៉ុណ្ណោះ។ សកម្មភាពណាមួយដែលអ្នកអានអនុវត្តលើព័ត៌មានដែលរកឃើញនៅលើគេហទំព័ររបស់យើងគឺប្រឈមនឹងហានិភ័យរបស់ពួកគេ។
Source: https://beincrypto.com/crypto-assets-inflows-87m-bearishness-market/