The digital asset market has experienced a minor cooling-off phase, with outflows totaling roughly US$11.2 million over the week. Despite this, Bitcoin emerged as a beacon with inflows totaling US$3.8 million. CoinShares’ Digital Asset Fund Flows Weekly report also displayed a notable increase in trading volumes, with volumes rising to US$2.8 billion for the week, marking a 90% increase from the year-to-date average.Altcoins, however, experienced outflows, with Polygon and Ethereum seeing a decrease of US$8.6 million and US$3.2 million, respectively. Solana, bucking the altcoin trend, witnessed inflows for the ninth consecutive week, totaling US$0.7 million. Short Bitcoin positions, on the other hand, saw consistent outflows for the 19th consecutive week, totaling US$3.8 million. The total assets under management for short Bitcoin have fallen 48% from this year’s peak.The fluctuating sentiment in the digital asset market comes amid concerns and hopes about regulations on digital assets. Last week, hopes for spot exchange-traded fund (ETF) approval in the United States were complicated following a delay in the decision for all spot ETF applications and Grayscale’s win over the SEC. Despite the lingering negative sentiment, the digital asset investment products sector remains in a net inflow position for the year-to-date, recording a total of US$165 million.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | None |
| Companies | CoinShares, SEC, Polygon, Ethereum, Grayscale |
| Currencies | Ethereum, Bitcoin, Solana |
| Securities | None |
