Cryptocurrency prices have climbed somewhat after investors appeared to view Bitcoin as a safe haven for their money. In fact, even the Russians and Ukrainians have been seeking alternatives to their country\u2019s financial institutions.<\/p>\n
Bitcoin<\/a> is a particular favourite, with the current geopolitical events allowing Bitcoin (BTC) to transition into a store-of-value asset.<\/p>\n Nonetheless, institutional investors are backing the wider cryptocurrency market too, with most digital assets seeings signs of recovery.<\/p>\n Crypto-investment products saw inflows of $127 million last week, according to a CoinShares report<\/a>. The fresh investment inflows into crypto-funds jumped threefold last week to its highest in almost three months.<\/p>\n Source: CoinShares<\/p>\n<\/div>\n As can be observed, there have now been seven consecutive weeks of positive inflows for Bitcoin. This is a sign of institutional investors\u2019 interest in crypto, despite the recent retail sell-off. Such positive sentiment was centered in North America, with the region seeing inflows of $151M. Europe, on the contrary, saw outflows totaling $24M.<\/p>\n Bitcoin was the most popular asset among institutional investors, as almost $100 million funds were moved into it.<\/p>\n Source: CoinShares<\/a><\/p>\n<\/div>\n Bitcoin saw inflows totalling $95M last week, the largest single weekly inflow since early December 2021. This marked \u00a07 consecutive weeks of inflows for the largest cryptocurrency. Indeed a major jump from last time when BTC registered inflows<\/a>\u00a0 of around $17 million.<\/p>\n It didn\u2019t really come as a surprise given the dependence on Bitcoin in previous weeks. Worldwide sanctions<\/a> following Russia\u2019s invasion of Ukraine, as well as truckers in Canada<\/a> losing banking access during a protest against their government, propelled<\/a> Bitcoin away from the risk-on category of investments.<\/p>\n Well, altcoins saw a mixed bag of fortunes. However, Ethereum<\/a>, the world\u2019s largest altcoin, got much-needed relief<\/a> after witnessing a series of outflows. Ether funds saw minor inflows of $25 million, its highest figures in 13 weeks.<\/p>\n Multi-asset crypto-funds saw inflows amounting to $8.6M but individual altcoins remained flat over the week. In fact, some even saw outflows. The report stated,<\/a><\/p>\n \u201cAltcoin fortunes were mixed last week, with outflows from Solana<\/a> (US$1.7m), Polkadot<\/a> (US$0.9m) and Binance<\/a> (US$0.4m). While Litecoin<\/a>, Cardano<\/a>, and XRP<\/a> saw inflows totalling US$0.4m, US$0.9m and US$0.4m respectively.\u201d<\/p>\n<\/blockquote>\n Overall, while it might be a good sign considering the return of institutional investors, risks are still there. All one can do is brace and hedge against the risks.\u00a0<\/strong><\/p>\n For instance, miners have continued adding Bitcoin to their reserves. The hashrate<\/a> or network\u2019s computing power hit a high<\/a> of 212,000 Ehash\/s too.<\/p>\n Source: CryptoQuant<\/a><\/p>\n<\/div>\n The last significant exit of miners was back when the price was breaking its previous all-time high, trading near $25,000. Since then, however, there have been no more mass sales.<\/p>\n 3\/3 🧵<\/p>\n Unlike previous cycles post Halving, the highly liquid supply has been draining. <\/p>\n About 19% since the supply reduction event in May 2020.<\/p>\n Currently only about 4.4 million #BTC<\/a> are in constant circulation and available for purchase and sale. pic.twitter.com\/13AA9E75ap<\/a><\/p>\n \u2014 G a a h (@gaah_im) March 8, 2022<\/a><\/p>\n<\/blockquote><\/div>\nMuch-needed uptick\u00a0<\/strong><\/h4>\n
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<\/a><\/p>\nAnd the remainder?\u00a0<\/strong><\/h4>\n
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