- On Monday, the U.S.-listed spot ETFs witnessed nearly $300 million in new inflows.Investors seem to be bargain-hunting as temporary supply overhangs weigh over BTC‘s price.
The ETFs from Invesco, Franklin Templeton, Valkyrie, WisdomTree, and Hashdex did not experience any new investments or withdrawals last [day/week/month].
Some investors might be interpreting the recent selling as a chance to buy, according to CoinShares’ latest analysis on Monday.
“CoinShares reported that digital asset investment products attracted US$441 million in investments last week. The dip in prices caused by Mt Gox’s issues and the German government selling off may have been viewed as a chance for buyers. Nevertheless, ETP trading volumes were subdued at US$7.9 billion during the same period, which is consistent with the usual summertime decrease in activity.”
In simpler terms, traders often anticipate positive price movements in the cryptocurrency market during July based on historical trends, which have shown an average gain of around 9%. It is generally believed that this upward trend will persist.
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2024-07-09 10:30