Bitcoin Market Records Eight Weeks of Inflows
Institutional money is flowing into the market and Bitcoin broke and went over $58K not hours ago – I’d say things are looking great out there
Institutional Investors Remain Bullish On Bitcoin As Market Records Eight Weeks Of Inflows
“Since the price of the top digital currency is rallying, investors are putting money back in the market to make sure that they do not miss out on the train. Inflows for the week were $226 million. But bitcoin dominated this with a total weekly inflow of $225 million. Leaving altcoins in the dust with only $1 million of inflows for the week.
This marks the eight straight weeks of inflows for the crypto market that come up to a total of $638 million of inflows. Bringing the total assets under management (AUM) to $63.65 billion.
The record for assets under management for crypto currently sits at $67 at its peak and currently, AUM is only 5% away from reaching this all-time high. Most of this has come from renewed faith in bitcoin as sentiment has turned towards the positive for the digital asset.”