– Bitcoin and altcoins have seen significant inflows of over $1 billion in less than two months.
– The total market cap of cryptocurrencies has increased by $600 billion since November 2022.
– Digital asset investment products have seen inflows surpassing $1 billion, making it the third highest yearly inflows on record.
– Crypto exchange-traded products have nearly doubled their assets under management (AUM) since the start of the year.
– Bitcoin has attracted the majority of inflows, with long positions dominating the market sentiment.
– On-chain analytics firm Glassnode highlights that BTC being stored for the long term is outpacing the amount mined by 2.4 times.
– The upcoming block subsidy halving is seen as an important milestone for Bitcoin and has sparked renewed interest in the cryptocurrency.
– Increasing wallet entities, both large and small, indicate growing adoption of Bitcoin.
– This article does not provide investment advice and readers should conduct their own research before making any investment decisions.
