Inflows Of $932 Million Experienced in Digital Asset Investment Products After CPI Statement Was Released
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Over the last two weeks, the cryptocurrency industry and other investment options in digital assets have seen significant inflows. These inflows when put together, summed up to about $932 million.
As soon as the Consumer Price Index (CPI) statement, was made public on the 15th of May 2024; there was remarkable inflows in digital assets investment options. The CPI statement, was lower than what experts had predicted.
About 90% of the inflows, came from the last three days of trading of last week. This shows that there's a significant relationship between the expectations of interest rates, and the value of Bitcoin.
However, trading volumes did not experience any surge, and was low at about $10.5 billion for last week, in comparison to trading volumes in March 2024; of about $40 billion. About $1.002 billion of the total inflows was from the United States, showing the regional dominance of the United States in last week's market.
There are actually more of digital assets that needs to still be studied. The world of crypto is really fat
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