This year has been a big one for the cryptocurrency market, with capital inflows reaching a total of $17.8 billion so far, a figure that has surpassed the 2021 peak. Especially last week, the market witnessed significant inflows of $1.44 billion. Meanwhile, Bitcoin has been the main driver of the market, with weekly inflows as high as $1.35 billion. This surge was mainly due to the German government’s sales of Bitcoin and the positive impact of US Consumer Price Index (CPI) data.
However, the decline in market participation shows investors' caution, but as the cryptocurrency market gradually recovers, investor confidence is expected to strengthen. Currently, the price of Bitcoin is stable at around $64,500, which brings positive signals to the entire market and drives the global cryptocurrency market value to achieve a growth of nearly 9%. Altcoins have also gained momentum due to Bitcoin's strong performance, showing the overall positive momentum of the market. $BTC