For a month, crypto analytics record positive digital asset inflows.
The market dominance of Bitcoin (BTC) has been accentuated as it bolsters a four-week-long positive influx into crypto investment funds, with total inflows reaching $137 million.
The latest data from CoinShares reveals a four-week collective surge to $742 million, reversing a nine-week downward trend. This represents the most extensive run of inflows since Q4 2021, spotlighting the market's buoyant sentiment.
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Several contributing factors have propelled this upward momentum. Among these, a legal triumph in the SEC vs Ripple lawsuit was a noteworthy milestone for the crypto community. On top of that, the subsequent surge of XRP and an overall market uptick underscored the growing positivity.
Post the verdict, the crypto market's "Fear and Greed Index" reached a rating of 60, indicating a sentiment of "greed" or elevated optimism.
Interestingly, despite four consecutive weeks of inflows into crypto investment products, the index has now reverted to a "neutral" stage.
Dominating the inflow, Bitcoin emerged as the star player, accounting for a staggering 99% of all fund inflows with a weekly total of $140 million. Counterbalancing Bitcoin's gains were outflows from other cryptocurrencies, including a further $2 million for Ether (ETH), now holding the record for the highest total outflows year-to-date.
Even as Bitcoin extends its market control, its overall market capitalization has seen a slight week-on-week shift, mirroring the tranquil price action for the leading cryptocurrency. As of July 18th, Bitcoin's market dominance has slipped to almost 47%.
The geographical distribution of digital asset activity continues to follow a familiar pattern. North American countries, notably the United States and Canada, remain the frontrunners with $109 million and $28 million inflows, respectively.
While Bitcoin continues to rule the roost, the dynamics of the crypto investment landscape are constantly shifting, inviting stakeholders to be active in this ever-evolving crypto market.
