November 23, 2021
Bitcoin accounts for the lion’s share, as cryptocurrency products have seen inflows in the past week.
While investors invested $154 million in cryptocurrencies in the week ending November 19, Bitcoin received $114.4 million, representing 74% of the total invested.
Other assets that saw inflows include Ethereum, which recorded an inflow of $12.6 million, with total inflows rising to $80 million in the last four weeks. Solana saw inflows pegged at $8 million, but some legacy coins recorded some smaller outflows, including Cardano, which recorded outflows of $2.1 million.
While Bitcoin fell 10.4% last week, it fell 4.5% to $56,042, despite an all-time high of $69,000 on November 10. Blockchain data provider Glassnode shared its observation of Bitcoin and its recent all-time high position: “Spikes in on-chain profit-taking during bullish impulses are to be expected as the price climbs to new highs, and are typical for any bull market. As the realization of profits increase, so too does the probability of establishing a macro top.”
For more information, read the original story in Reuters.
