Bitcoin Leads $103M Crypto Inflows Post Sell-Off Pressure

Crypto investment funds are once again raking investments in millions following a temporary disruption.

Person in a Bitcoin industrual site, wearing a gas mask and smoke is everywhere.
Created by Kornelija Poderskytė from DailyCoin
  • The crypto industry saw over a hundred million inflow over the last week.
  • A substantial portion of the investment inflow came from Bitcoin.
  • The previous month-long inflow streak faced a setback with a significant outflow.

As 2023 draws to a close, the cryptocurrency industry is gearing up for an imminent bull run, fueled by market factors like the potential green light of a Bitcoin ETF by the Securities and Exchange Commission. This has sparked optimism and FOMO among investors, leading to a surge in investment funds pouring into crypto assets.

Despite a temporary disruption last week, marked by a record $16 million outflows, the market has swiftly rebounded, attracting millions in investments.  

Inflows Surge in a Single Week

According to Coinshares’ Head of Research, the crypto market witnessed an inflow of $102.7 million into digital assets between December 18th and 24th.

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Bitcoin (BTC) led the market by a significant margin, attracting $87.6 million in investment products. Ethereum (ETH) and Solana (SOL) followed with $7.9 million and $6 million, respectively.

Other assets saw an inflow of approximately $2.3 million, coinciding with the ongoing market pump as crypto assets record new price gains, including Solana, Algorand, and more. 

The inflows signal a significant potential price movement for Bitcoin, especially considering its dip on December 11 following the earlier rally in December. Bitcoin has witnessed a substantial surge in price this month, and investors have expressed optimistic forecasts for its exceptional performance in 2024.

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At the time of writing, Bitcoin (BTC) is trading at $43,550, Ethereum (ETH) at $2,278, and Solana (SOL) at $122.

To find out more about crypto funds inflow in the past weeks, read here:
Crypto Funds Break 11-Week Inflow Streak with $16M Outflows 

Investors are unsure about crypto exchange MEXC’s stability; find out more: 
MEXC Spurns FUD Over CEO X Account and Frozen Asset Claims

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

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Grace Abidemi

Grace Abidemi, a cryptocurrency reporter at DailyCoin, covers industry developments and trends. She previously worked as a freelance writer. With a Bachelor's degree in German Language and certifications in marketing and storytelling, Grace creates engaging content. When not working, she's in Nigeria, mastering cooking and canvas painting, and enjoys learning about different cultures and languages.