Crypto Market Records Highest Inflow Since December 2021, Is a Bull Run Imminent?
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The crypto market has experienced an unparalleled surge in capital, recording the highest inflow of $24.2 billion since December 2021. Meanwhile, Bitcoin, Ethereum, and Solana saw $103 million in weekly inflows as the deadline for the Spot Bitcoin ETF approaches.
Record Breaking Inflow Since 2021
Prominent chart analyst Ali recently shared the groundbreaking news on X, highlighting the massive capital influx into the crypto market. The staggering figure of $24.2 billion reflects a pivotal moment, surpassing previous records.
Around $24.2 billion are flowing into the #crypto market, the highest capital inflow since December 2021! pic.twitter.com/1cL75VlFAB
— Ali (@ali_charts) December 25, 2023
Meanwhile, Ali’s revelation draws a parallel to the capital inflow levels witnessed in December 2021. This comparison adds significance to the current surge, suggesting that the crypto market is experiencing a resurgence reminiscent similar to the period of bullishness at the end of 2021.
103 Million Inflow in a week
Inflows into digital asset investment products continued to rise, indicating a much-needed turnaround. As Bitcoin experienced significant inflows, with a notable $87.6 million contributing to the recent surge in overall inflows. This surge includes a $0.4 million influx in short-bitcoin and a substantial month-to-date inflow of $12.5 million.
Despite ongoing skepticism surrounding the decision on a spot Bitcoin ETF, the market witnessed a resurgence in funds following new advertising efforts by Bitwise and Hashdex for Bitcoin ETFs.
Ethereum, too, demonstrated positive momentum with inflows amounting to $7.9 million. This reflects strong investment fundamentals and a heightened demand for Ethereum’s staking yield. Solana observed a weekly inflow of $6 million and an impressive month-to-date inflow of $20.1 million, positioning itself as the third-largest among altcoins.
Notably, countries such as Germany, Canada, the U.S., Switzerland, and Brazil led crypto asset fund inflows. These regions played a pivotal role in driving the overall influx of cryptocurrency funds.
What Lies Ahead?
As the crypto market basks in this historic capital inflow, industry participants are left speculating about the potential consequences. However, Ali’s revelation is a key highlight in the ongoing narrative of cryptocurrency’s resilience and growing mainstream acceptance.
Filed under: Bitcoin - @ December 26, 2023 6:25 am