Market rally drives inflows into bearish Bitcoin funds

From January 14 to 20, $37 million flowed into crypto investment products. Two-thirds of this amount were from bearish Bitcoin funds, according to CoinShares analysts.

Trading volume jumped to $1.6 billion (above the 90-day MA of $990 million). 80% of the volume was driven by Bitcoin products.

AUM of crypto funds reached $29 billion — the highest since September 2022.

Earlier, LookIntoBitcoin analysts signalled Bitcoin entering the early stage of the bull market.

Glassnode previously pointed to a likely local maximum for Bitcoin’s price local maximum.

Earlier, Bloomberg strategist Mike McGlone forecast that the Nasdaq Composite would fall below its 200-day moving average, which coulddelay the rally in digital gold.

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