In the first four months of 2024, cryptocurrency investment vehicles have reportedly accumulated over $13.8 billion, as per CoinShares. However, despite this, short-BTC investment channels have hindered the overall weekly earnings of the asset, with outflows totaling $9.5 million. This marks the third consecutive week of departures by bearish market participants.
In 2021, the largest inflows were at $10.7 billion, followed by $6.6 billion in 2020. The year-to-date figures also indicate a significant shift from last year’s sentiment, with only $2.3 billion being attracted in the same period. The leading cryptocurrency token is currently trading at a value just 2% shy of its all-time high (ATH) of $73,750, which was achieved last month.
The upcoming Bitcoin halving is anticipated to be a pivotal moment not only for the cryptocurrency market but for the broader tech industry. It is expected that there will be a surge in demand for blockchain expertise as companies seek to leverage the growing potential of this technology.
