Bitcoin Dominates as 3rd Week of Fund Inflows Reverses Previous Month's Outflows - Invest in Web 3.0 with Luna Crypto, Voyager Crypto, Atom Crypto, Ankr Crypto, and More.
Bitcoin continues dominance as 3rd week of fund inflows correct previous months’ outflows

Crypto Inflows Fully Correct Nine Weeks of Outflows

CoinShares reported on July 10 that a third straight week of positive digital asset inflows has fully corrected nine weeks of outflows for the market. The inflows this week totaled $136 million, with 98% of that going to Bitcoin (BTC) and the remaining 2% mostly going to Ether (ETH), multi-asset holdings, and a few altcoins.

This three-week streak of positive movement has brought the total inflow amount to $470 million, fully correcting for the previous outflow streak according to CoinShares. BTC inflows have been particularly strong, with last week’s yearlong high of $123 million and this week’s additional $10 million bringing the two-week total to $256 million.

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Crypto Market Dominance and Liquidity

Bitcoin’s crypto market dominance extended from last week’s 51.46% to 51.66% as of July 11, continuing its total market cap.

CoinShares reported that blockchain equities inflows reached a yearlong high of $15 million, more than doubling the previous week’s $6.8 million and ending a nine-week outflow streak.

However, trading volume has dropped to a “seasonal low”, suggesting a possible equilibrium in the market. This is similar to previous years that saw a decrease in liquidity during the summer months of July and August.

Some investors are becoming concerned over the lack of a clear trend, despite the positive news regarding crypto inflows.

The optimism that had been generated by the possibility of one or more companies receiving approval from the US government to offer Bitcoin as a spot exchange-traded fund may be waning as the process drags on.

The US Securities and Exchange Commission’s ongoing litigation against Binance and Coinbase also adds to the uncertainty, as there is no indication of how the courts will rule.

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