Close Menu
StreamLineCrypto.comStreamLineCrypto.com
  • Home
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT
  • Defi
  • Blockchain
  • Metaverse
  • Regulations
  • Trading
What's Hot

S&P Global expands its reach with hybrid crypto-ecosystem index

October 7, 2025

Is Bitcoin now a $57B volatility trade

October 7, 2025

Bitcoin Open Interest in Focus as Bulls Battle for $124,000

October 7, 2025
Facebook X (Twitter) Instagram
Tuesday, October 7 2025
  • Contact Us
  • Privacy Policy
  • Cookie Privacy Policy
  • Terms of Use
  • DMCA
Facebook X (Twitter) Instagram
StreamLineCrypto.comStreamLineCrypto.com
  • Home
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT
  • Defi
  • Blockchain
  • Metaverse
  • Regulations
  • Trading
StreamLineCrypto.comStreamLineCrypto.com

Bitcoin sees $543 million in inflows after Powell’s dovish remarks

August 26, 2024Updated:August 26, 2024No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin sees 3 million in inflows after Powell’s dovish remarks
Share
Facebook Twitter LinkedIn Pinterest Email
ad


In response to CoinShares’ newest weekly fund move report, crypto funding merchandise noticed their largest inflows in 5 weeks, with $533 million pouring into the sector.

James Butterfill, head of analysis at CoinShares, defined that these inflows adopted remarks by US Federal Reserve Chair Jerome Powell on the Jackson Gap Symposium final week.

On the occasion, Powell hinted that the market may anticipate rate of interest cuts in September, which many market observers instructed had been bullish for Bitcoin and different crypto.

This assertion additionally appeared to have boosted buying and selling volumes, with final week’s quantity reaching $9 billion, considerably greater than in earlier weeks.

Bitcoin, US lead

Bitcoin dominated the inflows, with $543 million, most of which occurred on Friday after Powell’s dovish feedback. Butterfill said that this additional indicated Bitcoin’s sensitivity to rate of interest expectations.

Apparently, the bullish sentiment additionally attracted quick trades, with $1.7 million flowing into Quick BTC merchandise.

Bitcoin sees 3 million in inflows after Powell’s dovish remarks
Desk displaying the YTD, MTD, and weekly flows for crypto merchandise on Aug. 26, 2024 (Supply: CoinShares)

Conversely, Ethereum confronted outflows totaling $36 million final week. This can be as a result of continued traders’ exit from Grayscale’s Ethereum Belief. Butterfill wrote:

“Though new issuers proceed to see inflows with the Grayscale Ethereum belief offsetting this with $118 million outflows.”

Regardless of this, the newly launched Ethereum ETFs within the US have amassed $3.1 billion in inflows, which partially offsets the $2.5 billion outflow from the Grayscale Belief.

In the meantime, blockchain equities recorded inflows for the third consecutive week, totaling $4.8 million. Different digital property like Solana, XRP, and Litecoin noticed mixed inflows of round $1 million.

Throughout areas, america unsurprisingly accounted for almost all of the full inflows, with $498 million. Hong Kong and Switzerland additionally noticed important inflows, reaching $16 million and $14 million, respectively.

Crypto Products FlowsCrypto Products Flows
Desk displaying the YTD, MTD, and weekly flows for crypto merchandise throughout nations on Aug. 26, 2024 (Supply: CoinShares)

In distinction, Germany skilled minor outflows totaling $9 million, making it one of many few nations with a year-to-date web outflow.

Talked about on this article
Newest Alpha Market Report



Source link

ad
Bitcoin dovish inflows million Powells remarks Sees
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Related Posts

S&P Global expands its reach with hybrid crypto-ecosystem index

October 7, 2025

Is Bitcoin now a $57B volatility trade

October 7, 2025

Bitcoin Open Interest in Focus as Bulls Battle for $124,000

October 7, 2025

SBR And Bitcoin Act Are Closer Than You Think

October 7, 2025
Add A Comment
Leave A Reply Cancel Reply

ad
What's New Here!
S&P Global expands its reach with hybrid crypto-ecosystem index
October 7, 2025
Is Bitcoin now a $57B volatility trade
October 7, 2025
Bitcoin Open Interest in Focus as Bulls Battle for $124,000
October 7, 2025
SBR And Bitcoin Act Are Closer Than You Think
October 7, 2025
Zcash price crashes 18% after vertical rally – is more downside ahead?
October 7, 2025
Facebook X (Twitter) Instagram Pinterest
  • Contact Us
  • Privacy Policy
  • Cookie Privacy Policy
  • Terms of Use
  • DMCA
© 2025 StreamlineCrypto.com - All Rights Reserved!

Type above and press Enter to search. Press Esc to cancel.