{"id":3619,"date":"2024-12-03T04:02:44","date_gmt":"2024-12-03T04:02:44","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=3619"},"modified":"2024-12-03T04:02:44","modified_gmt":"2024-12-03T04:02:44","slug":"crypto-fund-flows-hit-270m-weekly-high-ethereum-leads-bitcoin-takes-a-backseat","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=3619","title":{"rendered":"Crypto Fund Flows Hit $270M Weekly High: Ethereum Leads, Bitcoin Takes a Backseat"},"content":{"rendered":"
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The latest Digital Asset Fund Flows Weekly Report<\/a> from CoinShares has provided valuable insights into the current stance of cryptocurrency investment.<\/p>\n

The report reveals that digital asset investment products recorded inflows totaling $270 million last week, contributing to a record of $37.3 billion in inflows<\/a> for the year.<\/p>\n

Despite this overall positive trend, notable discrepancies among individual cryptocurrencies were observed, highlighting a shifting sentiment within the digital asset market.<\/p>\n

Crypto Fund Flows Signal Market Shift<\/h2>\n

One of the most significant developments is the divergence in investor sentiment between Bitcoin and Ethereum. Bitcoin experienced outflows of $457 million, marking its first substantial outflows since early September.<\/p>\n

James Butterfill, head of research at Coinshares attributed this to \u201cprofit-taking\u201d activities after Bitcoin came very close to the psychological $100,000 mark.<\/p>\n

Meanwhile, Ethereum<\/a> recorded notable inflows of $634 million, bringing its year-to-date total to $2.2 billion and surpassing its previous record of $2 billion set in 2021. This contrast highlights renewed investor confidence in Ethereum as it regains its momentum in the market.<\/p>\n

\"Crypto<\/p>\n

Additionally, XRP saw substantial inflows totaling $95 million, setting a new record for the asset. Butterfill suggests this surge is fueled by optimism surrounding the potential approval of a US exchange-traded fund (ETF) for XRP, further solidifying its position in the market.<\/p>\n

Regionally, the United States dominated inflows, accounting for $266 million of the total. Other notable contributions came from Hong Kong and Germany, with inflows of $39 million and $12.3 million, respectively.<\/p>\n

In contrast, Switzerland and Canada recorded outflows of $26 million and $10 million, reflecting localized variations in investor behavior.<\/p>\n

The regional data indicates that while the US remains the primary driver of digital asset investments, global interest in cryptocurrencies continues to grow.<\/p>\n

Ethereum And Bitcoin Performance<\/h2>\n

While Bitcoin has been in the spotlight in recent weeks by breaking multiple resistance levels and setting new all-time highs (ATH), Ethereum also appears to be steadily carving its path to the spotlight<\/a>.<\/p>\n

Although ETH has yet to surpass its previous ATH, the asset has broken key resistance levels, currently trading above $3,600\u2014a nearly 50% increase over the past month.<\/p>\n

\"Ethereum<\/p>\n

According to a prominent crypto analyst, Titan of Crypto, on X, historical patterns suggest that Ethereum\u2019s peak in this cycle could approach $10,000 if it follows the trend<\/a> of reaching the 141.40% Fibonacci extension, as seen in previous cycles.<\/p>\n

\n

#Ethereum<\/a> Cycle Top: $7,800\u2013$9,900? \"\ud83d\ude80\"<\/p>\n

In the last cycle, #ETH<\/a> peaked near the 141.40% Fibonacci extension.<\/p>\n

If history repeats, this cycle\u2019s top could approach $10K. pic.twitter.com\/qnar4UqSW1<\/a><\/p>\n

\u2014 Titan of Crypto (@Washigorira) December 1, 2024<\/a><\/p>\n<\/blockquote>\n

Meanwhile, Bitcoin remains a dominant force<\/a> in the market, trading at $97,130 at the time of writing. This marks a substantial 39.8% increase over the past month, reflecting continued bullish momentum for the leading cryptocurrency.<\/p>\n

Featured image created with DALL-E, Chart from TradingView<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The latest Digital Asset Fund Flows Weekly Report from CoinShares has provided valuable insights into the current stance of cryptocurrency investment. The report reveals that digital asset investment products recorded inflows totaling $270 million last week, contributing to a record of $37.3 billion in inflows for the year. Despite this overall positive trend, notable discrepancies […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-3619","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3619"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3619\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}