Crypto Market Sees Bullish Trend Rebound, ETF Inflows Reach $1.1 Billion to Hit 7-Week High

BlockBeats News, December 4th, KobeissiLetter released a market analysis stating that Cryptocurrency ETFs are making a comeback. Last week, cryptocurrency funds saw a record $1.1 billion inflow, marking a new high in 7 weeks and reversing the previous trend of 4 consecutive weeks of outflows totaling $4.7 billion. The US cryptocurrency ETF led with a $994 million inflow, followed by Canada ($98 million) and Switzerland ($24 million), while Germany saw an outflow of $57 million.

Bitcoin led the inflows with a net inflow of $461 million, followed by ETH with a net inflow of $308 million. At the same time, investors withdrew $1.9 billion from Bitcoin short ETPs. The upward momentum of cryptocurrencies is returning.