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$2.7B Pours into Crypto: Bitcoin Grabs 83% Despite Mining Pressure

  • Digital asset investment products attracted $2.7 billion in the last week, with Bitcoin claiming 83% of the inflows, marking 11 consecutive weeks of positive flows and totalling $16.9 billion year-to-date.
  • Bitcoin miners are facing low profitability, but they are refraining from selling, as evidenced by the low Miner's Sell Pressure, despite plunging revenues and a lack of significant increases in selling behavior.
  • Ethereum garnered $429 million in weekly inflows, pushing its year-to-date intake to $2.9 billion, showcasing investor confidence in its long-term scalability and ecosystem growth, while Solana experienced less favorable investor demand.
  • The market is witnessing a phase of strategic consolidation among miners as Bitcoin miner revenues hit multi-year lows, hash rate volatility remains high, and mining difficulty stays unchanged following a recent drop, suggesting operational adjustments or temporary shutdowns.

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