Crypto: $24.2 Billions Flood the Market!

The bull-run across the crypto markets persists, continuing to attract more investors. Recent data reveals a massive influx of $24.2 billion into the digital asset market.

Billions of Dollars Injected Into the Crypto Market

The total market capitalization of the crypto markets reached an all-time high yesterday, amounting to $1.656 trillion. Despite a slight correction at the start of the day, the market maintains a growth of 58% since mid-October.

This rise is accompanied by a significant increase in capital inflow. According to recent data from Glassnode, reported by Ali Charts on X, more than $24 billion has flowed into the crypto market over the last 30 days, marking the largest capital inflow since December 2021.

Around $24.2 billion are flowing into the #crypto market, the highest capital inflow since December 2021! pic.twitter.com/1cL75VlFAB

— Ali (@ali_charts) December 25, 2023

Behind the scenes, this trend could signal an increasing interest from investors in cryptocurrencies, in anticipation of the impending SEC decision on Bitcoin ETFs. These developments could contribute to a general increase in investments in crypto-assets, also anticipating the imminent entry of financial heavyweights such as BlackRock into the market.

Bitcoin Leads the Way

At the heart of this increase in capital inflows, the leading cryptocurrency remains a central player.

A report by James Butterfill on X dated December 23rd indicates that Bitcoin-related products saw net inflows of $87.6 million last week, representing 85% of the total $103 million inflow into the crypto universe. Despite this, a slight decrease in the Bitcoin price is noted today. Currently, the leading cryptocurrency is trading at $42,868.

This decline is also felt among the altcoins, resulting in a decrease in market capitalization to $773.98 billion.

However, the increase in capital inflow into the crypto industry suggests the potential continuation of the current bull-run. But above all, the anticipation of the introduction of crypto-related ETFs bodes well for an additional injection of capital into the market.