Crypto market rally returns, ETF inflows hit $1.1 billion, highest in 7 weeks

BlockBeats news, December 4—KobeissiLetter released a market analysis stating that cryptocurrency ETFs are making a comeback. Last week, cryptocurrency funds recorded $1.1 billion in inflows, hitting a 7-week high. This marks a reversal from the previous four consecutive weeks of outflows totaling $4.7 billion. US cryptocurrency ETFs led with $994 million in inflows, followed by Canada ($98 million) and Switzerland ($24 million), while Germany saw $57 million in outflows. Bitcoin led the inflows with a net inflow of $461 million, followed by ETH with a net inflow of $308 million. Meanwhile, investors withdrew $190 million from short Bitcoin ETPs. The upward momentum in cryptocurrencies is returning.