Recent data indicates a significant recovery in investor interest in the cryptocurrency market, particularly in Bitcoin and Ethereum.
Return of Confidence in Bitcoin
Investor confidence in Bitcoin saw a powerful comeback as the asset drew $2.4 billion in inflows. This marks its biggest weekly tally since July. Meanwhile, short-Bitcoin products lost ground, with outflows trimming their assets under management to $86 million.
Altcoins Join the Rally
Ethereum also benefited as it posted four straight days of inflows after eight days of consistent withdrawals, totaling $646 million. According to CoinShares’ report, digital assets collected $3.3 billion last week, indicating a rally in prices.
Regional Leaders in Inflows
The United States led the way with $3.2 billion in inflows, followed by Germany with $160 million and Canada with $14.1 million. However, Switzerland experienced significant outflows of over $92 million.
Overall interest in cryptocurrencies displays positive trends, especially regarding Bitcoin and Ethereum, possibly indicating a recovery in investor confidence.
