Investment in cryptocurrency products has been on the rise lately, with Bitcoin leading the way. In fact, Bitcoin saw a whopping $543 million in inflows, most of which occurred on Friday after Powell’s dovish comments. This is a clear indication that investors are still bullish on Bitcoin and are willing to put their money where their mouth is.
However, Ethereum didn’t fare as well, with outflows totaling $36 million last week. This could be due to continued investors’ exit from Grayscale’s Ethereum Trust. It’s important to note that Ethereum has been struggling lately, with its price dropping significantly in recent weeks. This could be a cause for concern for investors who are looking to invest in the cryptocurrency market.
On the other hand, blockchain equities recorded inflows for the third consecutive week, totaling $4.8 million. This is a positive sign for the blockchain industry, as it shows that investors are still interested in investing in blockchain-related companies.
Overall, the cryptocurrency market is still volatile and unpredictable. However, with Bitcoin leading the way and blockchain equities showing promise, it’s clear that investors are still interested in this emerging market. As always, it’s important to do your research and invest wisely.
