"Don't look down on BTC, crypto is the biggest contributor in the market you know."
The cryptocurrency market is growing as gains are largely due to investments in Bitcoin (BTC) whose price peaked near $44,000 on January 30, 2024 before collapsing back below $43,000.
Through observation, the inflow in the crypto market amounted to $708 million but it is also worth knowing BTC accounted for 99% or $703 million of all digital asset sector inflows in the week of January 29, 2024.
Inflows into all exchange-traded products reached $8.2 billion, down from $10.6 billion in the previous week and the United States (US) saw the most inflows of about $721 million.
Temporarily The US market for BTC ETFs has seen an inflow of $1.7 billion of $1.9 billion followed by GBTC selling $926.7 million BTC and ProShares $108.9 million BTC, however the outflows were not affected as much due to iShares BlackRock and Fidelity ETFs adding $1.6 billion.
Like to be informedSolana blockchain (SOL) outpaces its competitors with a $13 million inflow compared to Ethereum (ETH) which experienced an outflow of $6.4 million and Avalanche (AVAX) $1.3 million.
Reportedly, Canada saw the largest outflow at over $31.3 million while Sweden ranked second with outflows of $8.2 million but Switzerland recover drastically following $59.8 million went out two weeks ago then $20.9 million came in last week.
As of this writing, BTC price has jumped by 0.65% to $42,641 in the last 24 hours with a market cap of $836 billion but is still down 1.86% over the last week.
