The latest report from digital asset management company CoinShares pointed out that the cryptocurrency-related investment product market experienced a long-lost reversal last week after six consecutive weeks of net fund outflows, attracting a net inflow of $21 million. The total inflow of Bitcoin last week was US$20 million, accounting for the majority of the inflow. Funds invested in shorting Bitcoin-related products also continued to flow out, with an outflow of US$1.5 million last week, and the total outflow since April reached US$85 million.

There was little movement in the altcoin market. Solana continued to perform well, attracting $5 million in capital inflows, marking its 27th consecutive week of attracting capital inflows (only 4 weeks of outflows this year), making it the most popular this year. Altcoins, while Ethereum has experienced net outflows for 7 consecutive weeks, with an outflow of US$1.5 million last week, which is weaker than Bitcoin. Faced with another influx of capital inflows, Coinshares analysts interpreted it as a reflection of market concerns about U.S. government debt and recent government funding issues.

But despite the rise in Bitcoin prices this week, trading volumes remain at quarterly lows, both in the investment product market and in the overall cryptocurrency market.

It is worth mentioning that there are differences in capital changes according to different regions: broken down, the United States saw an outflow of US$19 million last week, while Europe and Canada attracted US$23 million and US$17 million in inflows respectively. #crypto2023