A third straight week of positive digital asset inflows has fully corrected nine previous weeks of outflows for the market, according to a report from CoinShares published on July 10.
This week’s inflows registered $136 million. Bitcoin funds continued their trend of holding the anchor position, with 98% of the inflows coming into BTC. The other 2% mostly came into Ether multi-asset holdings and a handful of altcoins.
After nine weeks of outflows exceeding inflows, this third week of positive movement increases the current streak’s total to $470 million. This number, according to CoinShares, entirely compensates for the prior outflow streak.
Bitcoin inflows showed no signs of diminishing this week, despite reaching year-highs in the previous two. As previously reported , BTC inflows totaled $123 million last week. This week’s inflows total $10 million, bringing the two-week total for BTC alone to $256 million.
This extends Bitcoin’s crypto market domination, increasing its overall market cap from 51.46% last week to a whopping 51.66% share as of July 11.
Another piece of positive news for hodlers is that blockchain equity inflows have reached a year-high of $15 million. This more than doubled last week’s $6.8 million, which ended CoinShares’ own nine-week outflow trend.
However, while global liquidity looks to be decreasing, there may be some indication of equilibrium on the horizon. According to the research, trading volume has reached a “seasonal low,” mirroring prior years’ cycles of low liquidity in July and August.
Despite the continued optimistic news on inflows, some investors appear to be concerned about the lack of a clear pattern.
Positive emotion generated by the expectation that one or more companies will eventually gain US regulatory approval to offer BTC as a spot exchange-traded fund may be fading as the process progresses.
There is also some uncertainty because the Securities and Exchange Commission’s current litigation against Binance and Coinbase continues with no clear indication of how the courts will rule.