CoinShares: Investors continue to invest in Bitcoin

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CoinShares analysts believe that the growing interest in the first cryptocurrency is directly related to the distrust of US dollars and Ethereum.

CoinShares reported that last yearDuring the week, investors were not very active in investing in cryptocurrencies. A total of $8.8 million was invested in digital assets. Trading volumes reached a new two-year low of $677 million.

Analysts believe that these are good indicators,as investors have been withdrawing money from short-term investment products for two weeks in a row. Last week, $17 million was invested in bitcoins. At the same time, investors have been withdrawing assets from short BTC positions for two weeks in a row: the outflow amounted to $3.9 million.

CoinShares experts note thatInvestor sentiment has gradually improved since mid-November, and since then $108 million has been invested in BTC. This is 2.1% of total assets under management (AuM). Analysts note that for four weeks in a row, investors have been gradually withdrawing money from Ethereum. The total amount of withdrawn assets amounted to $2.4 million, and since mid-November - $22 million.

CoinShares believes that investorsThere is still more faith in Bitcoin than in Ethereum. Crypto investors are generally reluctant to invest in other altcoins. $0.4 million was invested in Solana, and $0.5 million was withdrawn from Polygon.

Due to investor concerns aboutmining industry, which was faced with low prices for cryptocurrencies, rising interest rates and electricity tariffs, investors withdrew $6.6 million from shares of crypto companies. 

At the same time, the Binance exchange, according to the analytical platform Coinglass, is losing $500 million in bitcoins every day.