Bitcoin Weekly Inflow Drops To $663M Amid Cooling ETF Fund Flow

Amid a whirlwind of volatility in the cryptocurrency market, Bitcoin’s weekly inflow dipped to $663 million, signaling a momentary retreat amidst fluctuating investor sentiment. Despite this, a resurgence in the Bitcoin price today, rallying close to $73,000, hints at underlying investor confidence.

Meanwhile, the latest insights from CoinShares shed light on this evolving landscape, revealing intriguing trends and shifts in digital asset investments.

Exploring Bitcoin’s Weekly Inflow Dynamics

The Bitcoin ETF inflow has cooled down in the last week, dragging down the overall Bitcoin market influx. Notably, the U.S. Spot Bitcoin ETF started last week on a low note with around $86 million outflux, while regaining momentum since Tuesday, April 2.

Meanwhile, last week’s report from CoinShares Digital Asset Fund Flows Weekly Report unveils Bitcoin’s cooling inflow, amounting to $663 million. This contrasts with the prior week’s figure Bitcoin inflow of $865 million, suggesting a slight pullback in investor participation.

However, despite the dip last week, year-to-date (YTD) inflows for digital asset investment products reached a record high of $13.8 billion, surpassing 2021 levels.

In contrast, short-Bitcoin investment products faced outflows for the third consecutive week, totaling $9.5 million. This indicates a potential capitulation among bearish investors amidst Bitcoin’s volatile trajectory.

In addition, Ethereum experienced outflows for the fourth consecutive week, totaling $22.5 million, diverging from the inflow trend observed in most altcoins. Notably, the Ethereum outflow is attributed to the SEC’s recent investigation of ETH’s security status, which has sparked concerns over a potential delay in Ethereum ETF approval.

Also Read: New Theory “Satoshi Hada” On The Identity Of Bitcoin Creator Satoshi Nakamoto

Regional Disparities and ETF Trends

The regional sentiment remains varied, with the US witnessing a substantial inflow of $648 million, while Switzerland and Canada faced outflows of $27 million and $7.3 million, respectively. Despite the overall positive sentiment, there are signs of moderation in ETF investor appetite, failing to reach the peak flows witnessed in early March. This is evidenced by declining volumes, dropping from $43 billion in the first week of March to $17.4 billion last week.

Meanwhile, as said earlier, the U.S. Spot Bitcoin ETF has regained momentum from April 2 onwards, garnering an inflow of around $570 million over the last four days of last week. This influx in ETF fund flow reflects the dynamic nature of investor sentiment and its impact on cryptocurrency markets.

However, as of writing, the Bitcoin price has bounced back on the bullish track, rallying near its all-time high of $73,000. The BTC price rose 4.56% to $72,352.36 on Monday, while its trading volume soared 51.61% to $30.09 billion over the last 24 hours.

Notably, over the last 24 hours, Bitcoin has touched a high of $72,572.78, only a slight distance from its all-time high of $73,750.07 noted on March 14.

Also Read: XRP Price- Analyst That Claimed XRP To Hit $1 in April Says $5.85 In Sight