The foremost cryptocurrency, Bitcoin is proving its legacy again as in the weekly report, the most-lovable digital asset has seen a $104 million cash inflow, strengthening its bullish rally. The cumulative inflow of all digital assets is $114 million.
In the last four-week run with a $345 million inflow, the crypto market is showing good recovery signs after the last 6-week rally of outflows, which was around $408 million.
The report shared by CoinShares, Europe’s largest digital asset investment and trading group, reported that the U.S. and Germany have a greater contribution to the bullish rally in Bitcoin with $58m and $35m respectively.
Investor concerns about the current state of traditional finance led to a “flight to safety,” resulting in low market volume, according to CoinShares. The crypto market is currently having the greatest roller coaster ride. However, despite the low volume, there was an improvement in sentiment among investors.
Furthermore, ETH failed to show similar strength with “only US$0.3m of inflows” in the last week, despite its successful Ethereum Shapella Upgrade.