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Institutional Bitcoin products records more outflows for 13 of the past 17 weeks. However, the sector is now seeing three straight weeks of inflows.
Additionally, this is due to the Institutional investors buying the dip off from China’s latest FUD. Also, the digital asset investment products record amounts to $95 million worth of inflows last week.
Furthermore, CoinShares reveals on Sept. 27 The Digital Asset Fund Flows Weekly Result. Notably, a massive rise in dip buying achieves a sixth consecutive week of inflows. This record is specifically for institutional crypto investment products.
More so, a 126% weekly inflow rise amounts to $95 million worth of inflows between Sept. 20 and Sept. 24.
Also, BTC and Ether investment products leads the chart with $50.2 million and $28.9 million worth of inflows respectively.
Notably, This recent massive institutional adoption’s rise shows positive sentiments. This shows from the inflows in the last three weeks.
However, Inflows to Bitcoin products sees 234% week-over-week increase.
While Institutional appetites for altcoins shows strong resistance.
For instance, products like Solana, Cardano and Polkadot shows inflows of $3.9 million, $2.6 million and $2.4 million respectively. Meanwhile, Multi-asset funds sees also an inflows of $6.4 million this last week.
FUD triggered Dip
Bitcoin sees an 8% dip on Sept. 24 when the People’s Bank of China (PBoC) announced a ban on all crypto transactions.
This updates bans institutional and payment firms to provide any crypto transactions services.
However, While the crash from Chinese regulators affects the markets, history always has it that a bull run awaits from subsequent months.
Of Course, This is due to massive dip buying while the prices declines.
Conclusively, In September of 2017, China announces a ban on crypto exchanges. However, the price of bitcoin after the announcement sees a historic surge from $4,000 level to an all high price of around $20,000.