From outflows to inflows: Bitcoin ETPs rally amid surprising economic update
Crypto ETPs saw $921 million in inflows last week, driven by renewed confidence following lower-than-expected US inflation data.Summary
Cryptocurrency exchange-traded products (ETPs) experienced a significant rebound last week, recording $921 million in inflows, which more than compensated for the $513 million in outflows the prior week. This bullish trend was primarily fueled by renewed investor confidence in potential future US interest rate cuts, spurred by surprisingly low Consumer Price Index (CPI) data released on Friday, according to James Butterfill, CoinShares' head of research. Bitcoin (BTC) was the main driver, recovering nearly all previous losses with $931 million in inflows, contrasting with Ether (ETH), which saw its first outflows in five weeks totaling $169 million. While other altcoin ETPs like Solana (SOL) and XRP (XRP) saw reduced inflows, Bitcoin's recent performance brings total inflows since September rate cuts began to $9.4 billion, though year-to-date inflows remain 38% below last year's figures.
(Source：Cointelegraph)