CoinShares: Bitcoin (BTC) institutional investments inflow exceeds $6.4B

Tue 09 Nov 2021 ▪ 12h25 ▪ 3 min read — by Susan McCormack

A new CoinShares report shows that the amount of institutional money invested in digital assets in 2021 has already topped the 2020 figures. During the trading session on 9th November, Bitcoin (BTC) rose by 4.97% and reached $68,519.

BTC inflow reaches a new high

It is noted that BTC accounts for two-thirds of the year-to-date inflows. The coin has reached its all-time high of $6.4 billion. Ethereum (ETH), after some lag, has passed the $1 million mark, and now accounts for a quarter of the inflows.

“Ethereum has demonstrated a resumption of positive sentiment with an influx of funds totaling $31 million last week. Ethereum’s market share has suffered in recent months due to Bitcoin’s dominance,” writes James Butterfill, CoinShares investment strategist.

Polkadot (DOT) has demonstrated an upsurge in market capitalisation over the past couple of weeks. Last week the DOT coin inflows amounted to $9.6 million, which is its best indicator in history, the CoinShares report states. 

Why is BTC growing?

On 9th November, Bitcoin broke the historical record, surpassing the $68,000 mark for the first time.

The BTC rate began to soar on 8th November, reaching $66,340. The coin was last traded at this level on 21st October, when it adjusted after reaching $67,000 mark on 20th October.

Previous Bitcoin fluctuations were accompanied by a significant drop in trader sentiment. Analysts state that Bitcoin lacking strong purchasing power while ranging from $58,000 to $63,000 made traders start losing optimism. Luckily, downs are always followed by ups.

Market fluctuations shake regulators in different countries. The last major take-off took place on 7th September, when El Salvador adopted the Bitcoin law accepting the coin as its legal tender.

JPMorgan analysts believe that the fair Bitcoin price is $35,000. They compared BTC with gold and stressed that the digital asset volatility is four times higher than that of the precious metal. The BTC exchange rate fluctuations decreased by half, the $73,000 target can be called justified, experts believe.

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Susan McCormack

How many crypto nerds does it take to fork an altcoin? I may be a failed comedian, but crypto is no joke! I want to share my knowledge and help others to see the bright future ahead. #buybitcoin


The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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