Here’s What Bitcoin Institutional Inflows Says About The Month Of July
04 Agosto 2022 - 07:00PM
NEWSBTC
The price of bitcoin has had an eventful start to the month of
August, and it doesn’t look like it will be stopping anytime soon.
Mostly, it is the residual effects of what happened in the markets
during the month of July, where the price of bitcoin had actually
broken above $24,000. In the same vein, the institutional inflows
have a lot to say about bitcoin, especially when it comes to how
big money is looking at the digital asset. Bitcoin Inflows Grow
Strong Bitcoin inflows for the month of July had actually
maintained a steady uptrend. The digital asset was able to receive
another $85 million worth of inflows for the last week of July,
mostly for long bitcoin. At the same time, short bitcoin continued
to decline with $2.6 million in outflows for the week. Others in
the space also enjoyed inflows, and by the end, it came out to be
the strongest month of inflows so far for the year 2022. This is
because there had been a recorded $474 million, which had almost
made up for the outflows that had rocked cryptocurrencies in the
month of June with a total of $481 million. BTC trading at $22,900
| Source: BTCUSD on TradingView.com This now makes it the 5th
consecutive week of inflows for all digital investment products,
most of which had come from North America. Canada had brought in
$67 million while the United States recorded a much lower $15
million. Across the pond, countries such as Brazil and Sweden also
contributed to the inflows, albeit to a lesser degree. Others who
saw minor inflows include Solana and Polkadot, with $1.5 million
and $0.4 million, respectively. What This Says For The Market The
reversal of the outflow trend in the month of July follows the
recovery in investor sentiment over the last couple of weeks. It
shows that retail investors are not the only ones feeling more
bullish about the market, but institutional investors were
beginning to feel the impact of the recovery too. Most prominent
has been bitcoin which has enjoyed the most of these inflows. And
although Ethereum failed to make a marked recovery from
institutional investors, it, too, had been seeing growing
confidence in the market lately. Essentially, the turn in the tide
has come despite low trading activity in the space. Net flows from
exchanges continue to point towards an accumulation trend that
mirrors this bullish sentiment. Since investors are bringing this
bullish trend from the month of July into August, it is quite
possible that there is more recovery to come in the market.
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