Crypto Funds Record Another Week Of Inflow, Bitcoin Monthly MACD Turns Green

Bullish Sentiment on Crypto Continues

According to CoinShares data, crypto asset inflow for the week ending July 2 was $125 million. Another week of inflow brings the total inflows in the last two weeks to $334 million, almost 1% of total assets under management (AUM).

advertisement

Bitcoin again recorded the largest share of inflows worth $123 million. However, short Bitcoin investment products saw a 10th week of successive outflows despite a recent price jump, with this week’s outflow of $0.9 million.

Weekly Crypto Asset Flows
Weekly Crypto Asset Flows. Source: CoinShares

“Bitcoin remained the primary focus of investors, seeing inflows of US$123m, with the last 2 weeks inflows representing 98% of all digital asset flows. Bitcoin investment products are now back to a net inflow year-to-date having been in a net outflow position of US$171m just 2 weeks ago.”

Investors were also interested in top altcoins including Ethereum, Litecoin, XRP, and Cardano. ETH led with inflows worth $2.7 million. Meanwhile, blockchain equities also saw inflows of $6.8 million following a 9-week run of outflows amid positive sentiment.

Recommended Articles
ethereum price crypto news
Crypto Presale Projects For 2023 To Invest; Updated List
Must Read
crypto exchange affiliate programs
Best Crypto Exchange Affiliate Programs In 2023
Must Read
ethereum price crypto news
Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated]
Must Read
ethereum price crypto news
Crypto Telegram Channels List 2023 [Updated]
Must Read
ethereum price crypto news
Top 10 Web3 Games To Explore In 2023; Here List
Must Read

ProShares ETFs, Purpose Investments, ETC Issuance GmbH, and CI Investments recorded the most inflows last week.

Also Read: Shiba Inu Official Predicts BONE Price At $3 As Shytoshi Kusama Hints At Shibarium Launch

Bitcoin Price More Bullish As Monthly MACD Turns Green

Bitcoin MACD indicator has turned green in the monthly chart, indicating massive upside moves in the next few months. It also confirms the start of a bull market.

Historically, this signal has triggered bull markets in the last two incidences, recording 4,000% and 450% gains. Crypto experts and Bloomberg’s analysts are already bullish on Bitcoin price hitting $40,000.

Bitcoin Price Monthly Timeframe
Bitcoin Price Monthly Timeframe

BTC price moving sideways in the last few days, with price currently trading at $30,637, up 0.5% in the last 24 hours. The 24-hour low and high for Bitcoin are $30,264 and $30,789, respectively. Meanwhile, ETH price jumps more than 2% in the past 24 hours, currently trading at $1962.

Also Read: Terra Luna Classic Community Passes Three Crucial Proposals

Mooky Presale
Mooky Coin Presale
$MOOKY is a meme token which helps planting trees by donating to charity.
Visit Here
AD

Comments

Post a Comment

Popular posts from this blog

Bitcoin: Analyst Predicts BTC May hit $135,000 Next Cycle

Image
According to the crypto analyst known as “CryptoCon” on X (formerly Twitter), Bitcoin (BTC) might hit $89,000 or $135,000 in its next cycle. The analyst cites “The Gann Square” theory for its prediction, which has seen some success in predicting the tops of some previous cycles. According to CryptoCon, the Gann Square theory sets the stage for two possible outcomes for BTC’s next cycle. The $135k prediction aligns with the analyst’s Nov. 28 price model and their Trend Pattern price model. On the other hand, the $89k prediction aligns with the “5.3 diminishing returns theory.” This theory says that BTC’s returns diminish by a factor of 5.3x from the bottom to the top of each cycle. Also Read: JPMorgan Predicts Bitcoin Hash Rate to Fall 20% Post-Halving Source: CryptoCon Bitcoin (BTC) has also been one of the most profitable assets in the last decade. According to the data on Blockchain.com, BTC has been profitable for 3129...
Read more

Bitcoin hits 2-week low on US inflation data — When will BTC price bounce?

Image
BTC price downside follows renewed inflation fears amid a prediction that Bitcoin might only reverse upward in December. Bitcoin (BTC) hit new October lows after the Oct. 11 Wall Street open as one analyst hailed the “final stage” of the cryptocurrency bear market. BTC/USD 12-hour chart. Source: TradingView Bitcoin traders stress importance of $26,800 Data from Cointelegraph Markets Pro and TradingView showed further BTC price weakness emerging, costing bulls $27,000 support. At the time of writing, the largest cryptocurrency was headed toward $26,600 as downside gained momentum. The move followed United States inflation data in the form of the Producer Price Index (PPI), the September print for which came in above expectations — 2.2% versus 1.6% year-on-year (YoY). This added to concerns about lingering U.S. inflation pressures, with dollar strength up and risk assets down. Producer Price Index (PPI) chart. Source: U.S. Bureau of Labor Statistics “PPI coming in hotter than expecte...
Read more

Bitcoin’s whale-sized moves hint at $37k ascent

Image
Bitcoin (BTC) is observing noticeable spikes in whale transactions worth at least $100,000. Its supply on exchanges witnesses a gradual uptick amid the fight to reclaim $37,000. These spikes in large transactions started earlier this month, data from Santiment confirms. Notably, whale transactions rapidly increased from Nov. 5, eventually crossing the 5,000 mark three days later. As of Nov. 8, Bitcoin recorded up to 7,992 transactions worth $100,000 and above. BTC price, whale activity and supply on exchanges – Nov. 9 | Source: Santiment This value represents the highest figure since late October. Despite a slight drop in these spikes, whale transactions have remained fairly high, with an intraday figure of 4,669 at the time of reporting. Interestingly, the recent spikes in whale transactions coincide with a gradual uptick in the supply of Bitcoin on exchanges. Santiment data suggests that investors have continually moved their BTC tokens to exchanges amid the ongoin...
Read more