The post Crypto Inflows Soar to Record $3.13 Billion appeared on BitcoinEthereumNews.com.

Crypto investment inflows registered a record-breaking weekly inflow of $3.12 billion last week. This surge brings the year-to-date inflows to an unprecedented $37 billion, highlighting Bitcoin’s growing dominance and renewed interest in digital asset investment products. It comes as Bitcoin (BTC) continues to show potential for new record highs, with the peak price now standing at $99,588 on Binance. Bitcoin Dominates Amid Crypto Inflows’ Record Highs Bitcoin led the pack with $3.078 billion in inflows last week, marking its strongest performance to date. Despite reaching all-time price highs, the surge in interest extended to short-Bitcoin investment products, which recorded $10 million in weekly inflows. Notably, these short-Bitcoin inflows reached $58 million for the month — the highest since August 2022. Crypto Investment Inflows. Source: CoinShares The recent $3.12 billion inflow is a sharp increase from previous weeks, continuing a strong upward trend. For context, the week prior saw $2.2 billion in inflows, buoyed by Republican electoral momentum and Federal Reserve dovishness. The week before that brought $1.98 billion in post-election momentum. These successive inflows highlight the market’s resilience and growing confidence among investors despite broader economic uncertainties. However, the growing adoption of Bitcoin ETFs (exchange-traded funds), which are attracting significant institutional interest, is driving Bitcoin’s rise. According to data on SoSoValue, the cumulative total net inflow for Bitcoin ETFs reached $30.84 billion as of November 22, when markets closed on Friday. While all eyes were on MSTR, ETFs quietly ingested more than 10x the amount of BTC mined last week. Pac-Man mode activated,” quipped Eric Balchunas, an ETF analyst with Bloomberg Intelligence. Bitcoin ETF Flows. Source: SoSoValue Amid the growing optimism, Balchunas recently noted that US spot ETFs are 98% to passing Satoshi as the world’s biggest BTC holder. Similarly, analysts predict Bitcoin’s upward trajectory could extend to $115,000 this…

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Filed under: News - @ November 25, 2024 4:21 pm