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Crypto funds recorded an influx of $103 million in a week

The outflow of funds from cryptocurrency investment products, recorded last week, was replaced by an inflow of $103 million in the period from December 16 to December 22. James Butterfill, head of research at CoinShares, reported this.

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What is known

$87.6 million was invested in “standard” Bitcoin funds against an outflow of $32.8 million for the previous reporting period. Structures that allow opening shorts on the first cryptocurrency received $0.4 million.

The inflow into ETP based on Ethereum amounted to $7.9 million. $6 million was invested in tools based on Solana, while from products based on Litecoin and Avalanche withdrew $0.4 million and $2.6 million, respectively.

Read: Bitcoin miners' income from commissions increased by 400% over the year

< h3>Recall

At the end of November, Matrixport predicted that the first cryptocurrency will rise in price to $63,140 by April 2024 and to $125,000 by the end of the next calendar year.

Later, Glassnode pointed out prerequisites for volatile fluctuations of Bitcoin in the range of 50% around the level of $36,000, and Bitwise predicted a new high for digital gold at the level of $80,000.

Read: The main trend of 2024 : how the crypto market will react to tightening regulation

Recall that JPMorgan analysts assumed that in 2024 Ethereum will surpass Bitcoin and other cryptocurrencies thanks to upcoming updates on blockchain scaling.

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