Large investors are returning to bitcoin
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Big investors started to invest in BTC again after an unsuccessful month in the cryptocurrency sphere. Reuters writes about this.
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Inflow of investors
According to data from asset manager CoinShares, products for investments in digital assets last week received an inflow of more than $117 million, which is the largest weekly increase since July last year.
Bitcoin was the leader among all cryptocurrencies, and funds tracking it received $116 million of this amount. The total assets of crypto funds under management grew to $28 billion, which is 43% more than the November lows, when the FTX stock market crashed.
Bitcoin rallied nearly 40% in January, coming close to its best monthly performance since October 2021 and second best January performance in 10 years.
The rally of cryptocurrencies together with the potential improvement of the macroeconomic picture makes investors hope that the long “crypto-winter” may finally end.
Read also: Plus 22% in a week: how much will bitcoin grow
The US Federal Reserve is expected to raise interest rates this week by 0.25%, the smallest increase since the beginning of the tightening cycle last year.
The current activity in the options market indicates that traders are rushing to place bets immediately after the Fed meeting, which indicates the importance the market attaches to it.
Trading volumes of other cryptocurrencies are growing: average weekly volumes increased by 11%, which indicates that traders are returning to the market after several months of lull.
The Bitcoin Fear & Greed index of the cryptographic data platform Coinglass is hovering at 61, the highest level since mid-November 2021, just after BTC began to retreat from its peak (0 indicates extreme fear and 100 indicates extreme greed).
Author: 
News feed editor Anna Nedogybchenko. She writes on the following topics: Finance, banks, economy, investments
Source: Ministry of Finance
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