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Cryptocurrency Market Regains Momentum, ETF Funds Inflow $1.1 Billion Reaching 7-Week High
Summary: According to reports, KobeissiLetter released a market analysis stating that cryptocurrency ETFs are making a comeback, with cryptocurrency funds recording an inflow of $1.1 billion last week, reaching a 7-week high. This marks a reversal from the previous trend of 4 consecutive weeks of outflows totaling $4.7 billion. The US cryptocurrency ETF led with an ...
According to reports, KobeissiLetter released a market analysis stating that cryptocurrency ETFs are making a comeback, with cryptocurrency funds recording an inflow of $1.1 billion last week, reaching a 7-week high. This marks a reversal from the previous trend of 4 consecutive weeks of outflows totaling $4.7 billion. The US cryptocurrency ETF led with an inflow of $994 million, followed by Canada ($98 million) and Switzerland ($24 million), while Germany saw an outflow of $57 million.
Bitcoin led the inflow of funds with a net inflow of $461 million, followed by ETH with a net inflow of $308 million. At the same time, investors withdrew $1.9 billion from shorting ETPs on Bitcoin. The upward momentum of cryptocurrencies is returning.
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Link: Cryptocurrency Market Regains Momentum, ETF Funds Inflow $1.1 Billion Reaching 7-Week High [Copy]
