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