Bitcoin continues dominance as 3rd week of fund inflows correct previous months’ outflows

cointelegraph.com:

A third straight week of positive digital asset inflows has fully corrected nine previous weeks of outflows for the market, according to a report from CoinShares published on July 10. 

This week’s inflows registered $136 million. Bitcoin (BTC) funds continued their trend of holding the anchor position, with 98% of the inflows coming into BTC. The other 2% mostly came into Ether (ETH), multi-asset holdings and a handful of altcoins.

After nine weeks in which digital asset outflows outpaced inflows, this third consecutive week of positive movement brings the current streak’s total to $470 million. According to CoinShares, this total fully corrects for the previous outflow streak.

This brings the last 3 consecutive weeks inflows to US$470m, fully correcting the prior 9 weeks of outflows.Trading turnover has slowed though, which might be explained by the seasonal effects, where lower volumes are typically seen during July and August.2/6 pic.twitter.com/4uyvrY0aRP

Bitcoin inflows showed no signs of slowing down this past week after posting yearlong highs in the previous two. As Cointelegraph previously reported, BTC inflows for last week were $123 million. This week adds $10 million, bringing the two-week inflow haul for BTC alone to $256 million.

This continues Bitcoin’s crypto market dominance by extending its total market cap from last week’s 51.46% to a reported 51.66% share as of July 11.

In other good news for hodlers, blockchain equities inflows reached a yearlong high of $15 million. This more than doubled last week’s $6.8 million, which snapped a nine-week outflow streak of its own, according to CoinShares.

However, there may be some indication of equilibrium on the horizon, as overall liquidity appears to be down.