Crypto Currency News

Bitcoin and Ethereum return to register capital inflows after two weeks of liquidations

Crypto currencies were down more than 40% for two weeks and recovered slightly in the last week.

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.

See also  News of the week: Bitcoin ETF arrives in Chile and fines Coinbase

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.

Back to top button