In the latest weekly analysis from Coinshares, the flow of capital into cryptocurrency products resumed, showcasing a total inflow of $103 million during the week spanning Dec. 18 to 24.
Geographically, notable investment inflows were observed in Germany, Canada, and the USA, bringing in $41.6 million, $25.8 million, and $20.4 million, respectively.
Once again, Bitcoin (BTC) dominated the inflow, representing a significant portion at $87.6 million. However, there were also minor inflows into short BTC positions totaling $0.4 million. Ethereum (ETH) emerged as the leader among altcoins, drawing in $7.9 million.
Despite the overall inflow, analysts highlighted a minor outflow of $16 million from cryptocurrency investment products. CoinShares interpreted this as profit-taking rather than a significant shift in market sentiment.
Trading activity across the crypto market continued to surpass the yearly average, reaching $3.6 billion by week’s end. However, products centered around Bitcoin witnessed withdrawals amounting to $33 million, indicating some divestment. Additionally, short positions on BTC experienced a smaller outflow, totaling $0.3 million.
The report suggests a nuanced market landscape, with significant inflows, particularly in Bitcoin, alongside some profit-taking activities, showcasing the ongoing dynamism within the cryptocurrency investment sphere.
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