Bitcoin is still seeing more declines as per this morning Asia time. Also, Bitcoin is currently trading around US$57,050 according to CoinGecko data.
Furthermore, The top cryptocurrency by market value records a brief surge Monday, crossing the US$59,000 mark. However, it declines immediately.
Also, Ethereum is trading lower at US$4,169, down 15% from its Nov. 10 all-time high of US$4,878. So, Notwithstanding the recent crypto market price corrections, crypto investment products are still seeing inflows since last week. Notably, this is according to data from digital asset manager CoinShares.
Additionally, Institutional investors are not having concerns with recent crypto market price correction. More so, CoinShares reveals a massive inflows into crypto investment products of US$154 million last week. Notably, Bitcoin prices last week falls by 12% over the week. But, Bitcoin continues recording the most of the inflows, with US$114 million. Also, with an assets under management (AUM) share of 67% of crypto investment products since the last month.
Additionally, The recent ETFs launch in the U.S. gives more than 90% of inflows into Bitcoin.
On the other hand, Ethereum investment products records inflows of US$14 million last week. Of course, this is its fourth consecutive week of inflows recording US$80 million.
Then, acccoridng to Huobi Research, the contracts market for Bitcoin and Ethereum are relatively inactive with the basis of futures contracts stable.
Lastly, Cardano also records its first outflows in months of US$2.1 million, while Solana has inflows of US$8.5 million, as per CoinShares.
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