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Just-In: Crypto Funds Record Another Week Of Inflow, Bitcoin Monthly MACD Turns Green

Crypto asset products record second week of inflow, with Bitcoin recording $123 million in inflow as Bitcoin monthly MACD turns green.
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Just-In: Crypto Funds Record Another Week Of Inflow, Bitcoin Monthly MACD Turns Green

Institutional and retail investors remain bullish on crypto as digital asset investment products saw a second week of massive inflows. Crypto funds recorded a total of $334 million of inflow in the last two weeks, a $199 million inflow an earlier week and a $125 million inflow last week. Bitcoin again remains the favorite of investors, recording $123 million in inflows.

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Bullish Sentiment on Crypto Continues

According to CoinShares data, crypto asset inflow for the week ending July 2 was $125 million. Another week of inflow brings the total inflows in the last two weeks to $334 million, almost 1% of total assets under management (AUM).

Bitcoin again recorded the largest share of inflows worth $123 million. However, short Bitcoin investment products saw a 10th week of successive outflows despite a recent price jump, with this week’s outflow of $0.9 million.

Weekly Crypto Asset Flows. Source: CoinShares

“Bitcoin remained the primary focus of investors, seeing inflows of US$123m, with the last 2 weeks inflows representing 98% of all digital asset flows. Bitcoin investment products are now back to a net inflow year-to-date having been in a net outflow position of US$171m just 2 weeks ago.”

Investors were also interested in top altcoins including Ethereum, Litecoin, XRP, and Cardano. ETH led with inflows worth $2.7 million. Meanwhile, blockchain equities also saw inflows of $6.8 million following a 9-week run of outflows amid positive sentiment.

ProShares ETFs, Purpose Investments, ETC Issuance GmbH, and CI Investments recorded the most inflows last week.

Also Read: Shiba Inu Official Predicts BONE Price At $3 As Shytoshi Kusama Hints At Shibarium Launch

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Bitcoin Price More Bullish As Monthly MACD Turns Green

Bitcoin MACD indicator has turned green in the monthly chart, indicating massive upside moves in the next few months. It also confirms the start of a bull market.

Historically, this signal has triggered bull markets in the last two incidences, recording 4,000% and 450% gains. Crypto experts and Bloomberg’s analysts are already bullish on Bitcoin price hitting $40,000.

Bitcoin Price Monthly Timeframe

BTC price moving sideways in the last few days, with price currently trading at $30,637, up 0.5% in the last 24 hours. The 24-hour low and high for Bitcoin are $30,264 and $30,789, respectively. Meanwhile, ETH price jumps more than 2% in the past 24 hours, currently trading at $1962.

Also Read: Terra Luna Classic Community Passes Three Crucial Proposals

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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