Bitcoin & Ethereum Fuel 10-Week Surge
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AltcoinsBitcoin Digital asset investment products are demonstrating remarkable resilience and sustained investor confidence, recording their tenth consecutive week of inflows, totaling a substantial US$1.24 billion last week. This impressive streak has propelled year-to-date (YTD) inflows to an unprecedented record high of US$15.1 billion, according to a recent report by CoinShares, a leading digital asset investment firm. Despite prevailing geopolitical uncertainties, particularly emerging reports of US involvement in the Iran conflict and the recent US Juneteenth holiday which caused a slight tapering of activity in the latter half of the week, investor sentiment remains robust. This signals a growing maturity in the digital asset market, where investors appear to be viewing price corrections as opportunities for accumulation rather than reasons for withdrawal. Key Highlights from the CoinShares Report: Bitcoin Dominance: Bitcoin (BTC) continued to lead the charge for the second consecutive week, attracting a significant US$1.1 billion in inflows. This strong performance, even amidst a recent price correction, suggests that institutional and retail investors are actively “buying on weakness,” indicating a bullish long-term outlook for the flagship cryptocurrency. Further supporting this sentiment, short-Bitcoin products saw minor outflows of US$1.4 million, reflecting a diminishing bearish bias. Ethereum’s Longest Inflow Streak Since 2021: Ethereum (ETH) recorded its ninth consecutive week of inflows, adding US$124 million to its coffers. This remarkable run brings the cumulative inflows for this period to an impressive US$2.2 billion, marking Ethereum’s longest continuous inflow streak since mid-2021. This sustained interest underscores a strong and continued investor belief in Ethereum’s ecosystem and its future prospects, potentially fueled by ongoing developments and the anticipation surrounding its various upgrades. US Leads Regional Inflows: The United States overwhelmingly dominated regional inflows, accounting for a staggering US$1.25 billion. This highlights the significant impact of the burgeoning US institutional market, particularly with the success of…
