Bearish sentiment in the bitcoin market is gradually dissipating

08.11.2022 Off By apos2t

Cryptocurrency Exchange Analysts said that last week the outflow of funds for products for investment in digital assets amounted to $8 million.

At the same time, most of the capital fell on short-term investment products, which indicates positive market sentiment:

“Volumes remain historically low as investors wait for a signal that the US Federal Reserve will abandon its tight monetary policy”.

Analysts note that Germany saw the largest inflow of capital into digital assets, amounting to $3.1 million, while Sweden and Canada saw outflows of $6.2 million and $3.9 million, respectively. For the fourth week in a row, Bitcoin has received an influx of investments totaling $11 million, while the outflow in the BTC short investment products market has reached a record $15 million:

“This is 8% of the total assets under management and twice as much as any indicators observed in previous weeks. This indicates that bearish sentiment is dissipating”, analysts of the exchange say.

Last week, Ethereum saw a slight outflow of funds totaling $2.1 million, which indicates the indecision of investors after the merger. Recent customer reviews indicate concern about the status of ether as a security.

Insignificant activity was observed in the altcoin market, with a slight outflow in the Polkadot and Solana markets. A small inflow of investments was directed to the ETP of shares of crypto companies in the amount of $1.8 million, and in general this year the inflow into securities amounted to $166 million.

Recently the founder and CEO of the Australian Exchange Justin Hance said that distrust of banks contributes to the adoption of bitcoin in the EU countries.