Crypto investment products saw significant inflows over the past week. This is the second week in a row that trends have been positive since the market’s recent decline.
According to CoinShares, digital asset investment products saw weekly inflows totaling $932 million between May 13 and 17, driven by the response to the US Consumer Price Index (CPI) report.
But despite the higher inflow volume But weekly trading volume remains relatively low at $10.5 billion. This is a sharp contrast to the $40 billion in March.
“The interesting thing is The inflows were an immediate response to a lower-than-expected CPI report on Wednesday. and emphasizes our view that Bitcoin prices have adjusted to interest rate expectations.”
CPI report on May 15 revealthat inflation rose 0.3% in April After increasing 0.4% in March and the Consumer Price Index increased 3.4% year-on-year. This was driven by strong increases in the energy and food sectors.
CoinShares Research noted that after a Bitcoin ETF was approved in the US in January, Factors influencing the price of Bitcoin are again in line with market expectations regarding interest rates.
Grayscale’s Bitcoin ETF saw modest inflows throughout the week, totaling $18 million, and has since January. The fund had outflows of $16.6 billion. Regional level Hong Kong and Canada experienced outflows of $83 million and $17 million, respectively.
According to CoinShares, several altcoin funds saw inflows over the past week, including Solana, Chainlink, Cardano, each with net inflows of $4.9 million, $3.7 million, and $1.9 million, respectively. Ether, on the other hand, had inflows. Outflow of $23 million
refer : cointelegraph.com
picture dexscreener.com
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