Digital asset investment products saw substantial inflows of $1.98 billion last week, marking the fifth consecutive week of net inflows and pushing the year-to-date total to a record $31.3 billion, per a CoinShares report. This influx has elevated the global assets under management (AUM) in digital products to a new high of $116 billion.
Trading Volume Rises to $20 Billion
Trading volumes reached their highest levels since April, totaling $20 billion. Most of the inflows were concentrated in the U.S., followed by Europe, with Switzerland and Germany reporting notable inflows of $23 million and $20 million, respectively.
Bitcoin led the charge with $1.8 billion in inflows, boosted by positive economic conditions and recent U.S. election outcomes favoring pro-crypto officials. Since the Federal Reserve’s rate cut in September, Bitcoin has seen a cumulative $9 billion in inflows. Spot Bitcoin ETFs have also seen substantial activity, with major net inflows on November 7 ($1.38 billion) and October 30 ($893.21 million).
Altcoins and Blockchain Equities Gain Momentum
Ethereum showed resilience, posting its largest weekly inflow since July’s ETF launches, with $157 million. Altcoins like Solana, Uniswap, and Tron also attracted significant investments, alongside $61 million into blockchain equities, highlighting a broadening interest across the digital asset landscape.
Bitcoin Reaches New High of $82,000 Amid Bullish Market Sentiment
Bitcoin’s price soared to an all-time high above $82,000 on Monday, fueled by optimism following U.S. elections that brought pro-crypto candidates into office. Futures and options markets echoed this bullish sentiment. Bitcoin open interest surged past $2.8 billion on the Deribit exchange, with call options trading at a premium over puts, indicating confidence in continued price gains.
Researcher Vetle Lunde of K33 Research noted an uptick in open interest for out-of-the-money calls, reflecting heightened bullish expectations. The CME derivatives exchange, popular among institutional investors, saw premiums for Bitcoin and Ethereum futures climb to 14% and 14.5%, respectively. Offshore derivatives markets also signaled increased leverage and stable double-digit yields, indicating strong risk appetite among investors.
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