It seems that the recent correction in the cryptocurrency market does not bother investors, as the bullish sentiment continues to dominate the hearts of traders.
According to data from Coinshares, digital asset funds dedicated to Bitcoin and Ethereum continue to grow.
Cryptocurrency investment products, which include exchange-traded funds (ETFs), saw weekly inflows totaling $154 million for the week ending November 20, according to a report. Coinshares latest fund flows.
As in previous weeks, bitcoin investment products attracted the most inflows of $114.4 million. Funds earmarked for Ethereum saw weekly inflows of $12.6 million, and multi-asset products recorded $14.1 million in net investments.
To date, according to Coin Telegraph, institutional investors have committed more than $6.6 billion to Bitcoin products, $1.17 billion to Ethereum products and more than $9.2 billion to cryptocurrencies. as a whole.
Gray Scale, the largest crypto asset manager, had $51.9 billion in assets under management as of November 19.
According to a recent tweet from a cryptocurrency analyst (TechDev), the 2021 bull market is five to eight days behind the 2017 cycle from July. If the trend continues, Bitcoin and the broader market could prepare for a higher breakout in the medium term.
Bitcoin is trading in the morning trading of today, Tuesday, at the level of 56.56 thousand dollars, down by 1.50%, while Ethereum is trading at the level of 4,156 thousand dollars, down by 0.52%.
