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The crypto market faced the toughest times in 2022. However, the market as a whole is showing signs of recovery.
Bitcoin [BTC]In particular, the overall rally is recovering, albeit much slower than expected.The same is up-to-date and emphasized CoinShares Report..
Not a rare sighting
The recent Digital Asset Fund Flow Weekly Report on July 19 touched on a variety of stories. Concerned In the ongoing crypto market. One thing remains clear “The influx of short Bitcoin continues, but it is the lowest since October 2020.”
Last week, digital asset investment products saw an inflow worth only $ 12 million. Unfortunately, this marked the third straight week of slight influx.
Source: CoinShares
The most activity was seen here, with short-term investment products reaching $ 15 million. However, long-term investment products have witnessed an outflow. This is further shown in the table below.
Source: CoinShares
Long bitcoin Total assets under management (AuM) increased from 11.4% at the end of June to $ 17.8 billion, while a total outflow of $ 2.6 million was seen.
Interestingly, investors are still adding Short bitcoin Last week’s inflow totaled $ 15 million, a record run for four weeks totaling $ 88 million (61% of AuM).
This sheds light on important but demanding scenarios. New investors have expected further price declines, while currently invested investors have not sold out their positions, but believe that cryptocurrency prices are nearing the bottom.
“Alt” scenario
Altcoin painted a similar picture. Ethereum [ETH]The biggest alternative, a minor outflow totaling $ 2.5 million, has ended the three-week inflow.
However, monthly flow remains positive at $ 6.6 million.
Other altcoins took little action, except for that. Solana [SOL] When XRP, There are inflows of $ 500,000 and $ 300,000 respectively. Meanwhile, the inflow of multi-asset products exceeded that of other products at $ 5.5 million. In this regard, the CoinShares report states:
“The multi-asset investment product, which has a strong position in the bear market from a flow perspective, has seen a total inflow of $ 2 million, far more than any other asset, 219 million. It became a dollar. “
Overall, the amount of investment products was very small, averaging $ 2.4 billion a week, but totaling $ 1 billion a week. However, it may be safe to say that the “summer downturn” is here.
