Bitcoin began the new week on the rise, surging above $64,000, boosting investor expectations for further increases. CoinShares published its weekly cryptocurrency report, indicating an inflow of $407 million last week.
Introduction to the Crypto Market
Cryptocurrency investment products saw an inflow of $407 million. Investor decisions are likely to be influenced more by the upcoming US elections than monetary policy.
Cryptocurrency Performance Analysis
When assessing funds individually by cryptocurrency, Bitcoin showed significant inflows. BTC saw an inflow of $419 million, while Ethereum (ETH) continued its outflows, experiencing a $9.8 million outflow last week. Additionally, the Bitcoin Short fund, indexed to BTC's decline, saw an outflow of $6.3 million. Among other altcoins, XRP saw an inflow of $1.1 million and Solana (SOL) saw an inflow of $0.6 million.
Regional Capital Flows
Examining regional fund inflows and outflows, the USA ranked first with an inflow of $406 million. Canada came in second, with $4.8 million. Against these inflows, Sweden experienced an outflow of $3.9 million.
The current market situation reflects growing investor interest in Bitcoin, despite outflows in Ethereum and other altcoins. Regional data highlights particular activity in the North American market.