Bitcoin Inflows Shows Institutional Investors Are Back On The Bull Train
October 06 2021 - 1:00PM
NEWSBTC
Bitcoin recovered above $50K on Tuesday following a rallying that
pulled the market back into the green. October has so far been good
for the digital asset and investors have begun to return again into
the market amid recovering prices. On the investment front, inflows
show that institutional interest in bitcoin is returning after
inflows had fallen short of expectations in the previous weeks.
Bitcoin Makes Up 76.6% Of Weekly Inflows A report published by
CoinShares shows that bitcoin inflows had picked back up. Altcoins
had been taking more market share as their popularity grew due to
the rise of decentralized finance (DeFi) networks like Ethereum and
Solana. These assets had dominated market inflows as investors had
flocked to profit from their growth. Altcoins had seen the largest
shares of market inflows throughout the month of September. But the
close of the month had shown a decisive turn in institutional
investors’ sentiments. Related Reading | Why The Bitcoin At
$100K Discourse Remains Strong Despite Market Crashes The report
showed that institutional inflows were $90 million for the previous
week, and bitcoin alone had seen inflows of $69 million. This
accounted for 76.6% of the total inflows, showing that
institutional investors are not turning their attention back to
bitcoin. The highly appreciative asset has a proven track record of
long-term success and its recent turn in prices has been evidence
of that. Investors’ confidence in BTC is on the mend. The Fear
& Greed Index moved into greed, showing mounting buying
pressure on the market. Bitcoin and its related products are seeing
increased interest from investors, and most importantly, big money
is moving back into the asset. BTC breaks $52K resistance point |
Source: BTCUSD on TradingView.com Market Inflows Pick Up As
Altcoins Concede Inflows in the market have picked up in recent
weeks. This marks the 7th consecutive week of inflows and a total
of $411 million has moved into the market. Altcoins have given up
some of the market shares which they had pinched from the top
cryptocurrency. Ethereum inflows for the week had totaled $20
million, down 3% from its peak to only 25% of total inflows.
Related Reading | Bitcoin Shakes Off Bloody September As Price
Breaks $50K, Headed For New All-Time Highs? Solana which had
dominated inflows for a while in September had recorded a
significant drop in inflows. The asset recorded only minor inflows
of $0.7 million. Alongside other altcoins which had suffered the
same fate. Cardano, the third-largest cryptocurrency by market cap,
only saw inflows totaling $1.1 million. While Polkadot, Tezos, and
Binance each recorded inflows totaling $0.8 million. Volumes have
however remained low despite inflows. At the height of the bull
market in May, volumes had reached $8.4 billion. Now, volumes are
at a low of $2.4 billion, representing an over 70% drop from their
peak in May. Featured image from Coinnounce, chart from
TradingView.com
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