Inflows into cryptocurrency investment products for January 7–13 amounted to $9.2 million. Positive momentum formed for the first time in four weeks, according to analysts CoinShares.
Trading volume remained relatively low at $866 million. Analysts concluded that the recent rally of digital assets was not accompanied by support from institutional investors.
Thanks to improved conditions, assets under management rose by more than 13%, to $25.47 billion — the highest since October 2021.
In traditional Bitcoin funds, inflows of $10.1 million were recorded. From structures that allow short exposure to the first cryptocurrency, $1.5 million were withdrawn.
Ethereum funds attracted $5.6 million. Positive momentum was recorded for the first time in the last nine weeks.
Outflows from funds based on various altcoins amounted to $3.2 million. Over the last seven weeks this figure has reached $16 million. Investors have become “more selective in what they invest in,” the analysts noted.
As reported in December, analysts at Nansen said that the base scenario for 2023 was a recession in the United States and a new wave of stock-market sell-offs. They said that, in these conditions, cryptocurrencies will be subject to negative revaluation.
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