CoinShares reported last week’s figures: net inflows into crypto investment products were about $3.55 billion, the highest single-week level since 2026. On September 16, the Fed added 25 basis points, taking rates to 3.75% to 4.00%. Rate hikes should, in theory, weigh on risk assets—but the money hasn’t stopped.

Products tied to $BTC drew about $2.52 billion, $ETH about $702 million, $SOL about $193 million, and $XRP about $92.3 million. In the U.S. alone, one product provider accounted for roughly $3.43 billion. As for spot, $BTC is still hovering around $83,500, with almost no movement over the past 24 hours.

People like me see funds pouring in while the price doesn’t move, and my first reaction is: don’t treat the inflow as an instruction to raise prices. Money went into the products, and spot can keep ranging. I trust this more as additional positioning after the policy takes effect—not a signal to charge forward. First, let’s see whether the 83,000 mark can hold.

Does not constitute investment advice.