Bitcoin continues to dominate as 3rd week of inflows corrects outflows from previous months

Blockchain stock inflows also hit a recent high of $15 million. However, the total trading volume has dropped.

News Join us on social networks

A third consecutive week of positive digital asset inflows fully corrected nine previous weeks of outflows for the market, according to a CoinShares report published on July 10.

This week's admissions recorded $136 million. Bitcoin (BTC) funds continued their trend of occupying the peg position, with 98% of inflows going into BTC. The remaining 2% came mainly from Ether (ETH), multi-asset holdings and a handful of altcoins.

Funds stream for the week ending July 7. Source: CoinShares

After nine weeks in which digital asset outflows outpaced inflows, this third straight week of positive movement brings the current streak total to $470 million . According to CoinShares, this total fully corrects the previous sequence of releases.

This brings inflows for the last 3 consecutive weeks to $470 million, fully correcting the previous 9 weeks of outflows.

Trade turnover has however slowed, which could be explained by seasonal effects, where lower volumes are generally observed in July and August.

2/6 pic.twitter.com/4uyvrY0aRP

— CoinShares (@CoinSharesCo) July 10, 2023

Bitcoin inflows showed no signs of slowing down last week after hitting year-round highs over the past two. As Cointelegraph previously reported,