After two weeks of massive sales since mid-May, the crypto market once again registered a higher number of purchases. According to analytics firm Coin Shares , bitcoin (BTC) purchases outperformed sales over the past week , reinforcing price support between $ 35,000 and $ 40,000.
Since its massive crash began, the price of BTC lost 50% over four weeks and hit lows of $ 31,000. However, many investors took advantage of the fall as a buying opportunity and have partially rebuilt the price .
Last week, crypto products and mutual funds posted a $ 74 million entry into the market , following an exit of $ 151 million over the previous two weeks. In the last three weeks, the total of expenditures amounts to 246 million.
The immediate figure is encouraging in its immediacy, although BTC still has a long way to go to recover to its highs of $ 64K . However, in annual terms it continues to register a significant inflow of capital (4.4 billion dollars) and a growth of over 20%.
On the other hand, ether ( ETH ), which came from declines of over 40% during the worst two weeks of the crypto market in the year, recovered $ 47 million during the past week and rallied above $ 2,500.