Ethereum Dominates Crypto Market As Inflows Surge Despite Bitcoin & Altcoin Decline

Bitcoin and other cryptocurrencies are experiencing a downturn as macroeconomic data from the US and anticipation for a potential Fed rate cut weigh on investor sentiment. The value of BTC has fallen below $115,000, while Ethereum (ETH) and the broader altcoin market continue to decline. Nonetheless, CoinShares’ latest weekly cryptocurrency report indicates a remarkable surge in investment activity. Last week saw a record-breaking influx of $3.75 billion into crypto investment products, marking the fourth largest weekly inflow on record. This positive trend has pushed total assets under management (AUM) to a new high of $244 billion.