The cryptocurrency market shows activity following the announcement of a ceasefire between Israel and Iran, positively impacting investment flows.
Impact of Ceasefire News
Cryptocurrencies, including Bitcoin and altcoins, rose in response to the news of the ceasefire between Israel and Iran, which surfaced at the beginning of last week. CoinShares reports that a horizontal trend continues this week.
Investment Trends in Bitcoin and Ethereum
A recent CoinShares report indicates an inflow of $2.7 billion into cryptocurrency investment products over the week, marking 11 consecutive weeks with positive inflows. Bitcoin attracted the largest share with $2.22 billion, while Ethereum saw inflows of $429.1 million.
Regional Inflows and Outflows
Looking at regional inflows and outflows, the USA topped the list with an inflow of $2.65 billion. Following were Switzerland with $23 million and Germany with $19.8 million. In contrast, Sweden and Canada experienced outflows of $15.9 million and $13.6 million, respectively.
The situation in the cryptocurrency market remains positive, indicating sustained investor interest in key digital assets, which suggests ongoing growth in the sector.
