Crypto Funds Don Enter $2.7B for 11th Week, BTC and ETH Dey Lead
Crypto fund dem get total flow of $2.7 billion last week, dis na di 11th week wey crypto fund dey get positive flow no stop. Bitcoin na di main one wit $2.22 billion (83% of all), Ethereum carry $429 million. Other altcoins dem small like how XRP get $10.6 million, Solana $5.3 million and Sui $1.4 million. Na till now for di year, net inflows reach $16.9 billion, e near H1 2024 wey be $17.8 billion cos institutional people still get beta demand even wen geopolical wahala and monetary policy no clear. USA lead di regional flow with $2.65 billion, small-small come Switzerland, Germany, Canada, Hong Kong, and Brazil; Sweden na di only big place wey dem dey take money out. CoinShares talk say di momentum na becos institutional people don dey show more interest for crypto products.
Bullish
Steady crypto fund inflows—specially di $2.22 billion wey enter Bitcoin plus $429 million wey enter Ethereum—show say institutional confidence strong well well and buying pressure dey healthy. The 11th week in a row wey net inflows positive, e dey underline say short term technical dey bullish, and as we dey near last year’s YTD inflow record, e support say capital go continue to dey put for long term. Regional data wey show say wide spread inflows dey also make market strong and e show say momentum go continue dey go up.