Bitcoin (BTC) rose above $97,000 with the upward momentum it experienced after the sharp declines.
While the upward momentum is expected to continue, the FED’s interest rate decision for May is also awaited.
At this point, Coinshares released its weekly cryptocurrency report and said that there was only $2 billion inflow last week.
“The third consecutive week of inflows into cryptocurrency investment products was recorded, with a total inflow of $2 billion last week. This brings the total inflows over the last three weeks to $5.5 billion, marking a dramatic shift in sentiment after nine weeks of significant outflows.”
Bitcoin (BTC) Is the Leader Again!
When looking at individual crypto funds, it was seen that the majority of inflows were in Bitcoin. While BTC experienced an inflow of $1.84 billion, Ethereum (ETH) experienced an inflow of $149.2 million.
When we look at other altcoins, XRP experienced an inflow of $10.5 million, Solana (SOL) $6 million, Tezos (XTZ) $8.2 million, and Cardano (ADA) $1.2 million.
“As usual, Bitcoin had the biggest inflow last week, seeing $1.8 billion in inflows. Ethereum saw solid inflows totaling $149 million in its second week, bringing the inflows in the last 2 weeks to $336 million, while its rival Solana saw smaller inflows of $6 million. Other notable flows were XRP and Tezos (XTZ) with inflows of $10.5 million and $8.2 million respectively.
When looking at regional fund inflows and outflows, it was seen that the USA ranked first with an inflow of 1.92 billion dollars. After the US, Germany saw an inflow of $47.2 million and Switzerland $34.2 million, while Sweden and Brazil experienced small outflows.
*This is not investment advice.
