🚀 Powell's speech follow-up: Bitcoin attracted $543 million, with the largest weekly inflow! 🌟
🚀 After Powell's speech at Jackson Hole, Bitcoin's weekly inflow soared to $543 million, becoming the market leader! Ethereum, on the other hand, suffered an outflow of nearly $36 million. This week was really a mixed bag!
💬 As soon as Fed Chairman Powell's dovish remarks came out, digital asset investment products attracted $533 million in inflows, the largest inflow in more than a month. Although trading volume has declined, the total trading volume in the past seven days reached $9 billion!
📊 According to CoinShares' Digital Asset Fund Flow Weekly Report, Bitcoin's strong performance highlights its sensitivity to interest rate expectations. Although the Ethereum spot ETF has attracted hundreds of millions of dollars in inflows since its launch a month ago, Ethereum has seen an outflow of nearly $36 million this week, as well as an outflow of $189 million from the Grayscale Ethereum Trust this week.
🌍 The geographical distribution of capital inflows is also interesting. The United States led with a net inflow of $498 million in the past week, followed by Hong Kong and Switzerland, which received net inflows of $15.9 million and $13.9 million, respectively. Germany and Sweden saw outflows of $8.9 million and $1.2 million, respectively.
Market Interpretation:
📈 The market responded positively to Powell's expectations of loose monetary policy, and Bitcoin's weekly inflows soared to $543 million, highlighting its appeal as a safe-haven asset.
📉 Ethereum's $36 million in funds and $189 million in outflows from the Grayscale Ethereum Trust this week may reflect the market's short-term uncertainty about Ethereum and its ETFs, or investors' wait-and-see attitude towards Ethereum's prospects in the short term.
🌐 In the geographical distribution of capital inflows, the US market's net inflow of $498 million indicated continued enthusiasm for Bitcoin, while outflows from Germany and Sweden hinted at differences in confidence among investors in different regions.
💡Do you think this wave of capital inflows into Bitcoin is the beginning of a long-term trend? How long will Ethereum's capital outflows last? Which asset do you think is the most promising in the cryptocurrency market? Share your thoughts in the comments!
