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12/14/2021

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Bearish sentiment affects crypto weekly inflows, drops

Cryptocurrency inflows for the week ending December 10 saw inflows slowing down as the market pulls back to ‘extreme fear’ sentiment in the ‘Fear & Greed Index’ chart. Inflows dropped to roughly $88 million last week, a 52% decline...

Bearish sentiment affects crypto weekly inflows, drops

Cryptocurrency inflows for the week ending December 10 saw inflows slowing down as the market pulls back to ‘extreme fear’ sentiment in the ‘Fear & Greed Index’ chart. Inflows dropped to roughly $88 million last week, a 52% decline from last week’s $184 million, CoinShares weekly report noted Monday.

On the other hand, Bitcoin’s weekly inflows indicated polar opposite views amongst investors as the dominant currency still recorded $52 million in inflows despite falling 27% from last month. Bitcoin recorded $152 million in weekly inflows the previous week after investors indicated the downturn as a buying opportunity. The report noted:

“Suggesting extremely polarised opinion amongst investors, with some panic selling during this most recent price decline, while others seeing it as a buying opportunity. This divergence in views is broadly regional too, with providers in North America seeing flows, while those in Europe seeing outflows.”

Altcoins had a quite mixed week after Ethereum recorded outflows for the first time in six weeks, surpassing $17 million. Meanwhile, Solana and Tron recorded inflows totaling $19 million and $17 million, respectively. Solana fell 35% in December after hitting a record high in November. At press time it was trading at $155.37, down by 7% in the last 24 hours.

With major inflows, Tron has surpassed Cardano with more than $92 million in assets under management, a significantly higher figure from Cardano’s $68 million AuM.

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