Bitcoin continues to dominate as 3rd week of inflows corrects outflows from previous months

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A third consecutive week of positive digital asset inflows fully corrected nine previous weeks of outflows for the market, according to a CoinShares report published on July 10.

This week, admissions recorded $136 million. Bitcoin (BTC) funds continued their trend of holding the peg position, with 98% of inflows entering BTC. The remaining 2% came mostly from Ether (ETH), multi-asset holdings, and a handful of altcoins.

Cash flow for the week ending July 7. Source: CoinShares

After nine weeks in which digital asset outflows exceeded inflows, this third consecutive week of positive movement brings the current series total to $470 million. According to CoinShares, this total fully corrects the previous sequence of releases.

Bitcoin inflows showed no signs of slowing down last week after posting one-year highs in the previous two. As Cointelegraph previously reported, BTC inflows for the past week were $123 million. This week adds $10 million, bringing the two-week inbound transport for BTC alone to $256 million.

This continues the dominance of the Bitcoin crypto market by expanding its total market capitalization from 51.46% last week to a 51.66% share as of July 11.

In other good news for hodlers, blockchain stock inflows peaked at $15 million throughout the year. That more than doubled last week to $6.8 million, ending a nine-week release streak, according to CoinShares.

However, there might be some indication of equilibrium on the horizon as overall liquidity appears to be on the decline. According to the report, trading volume hit a seasonal low, mimicking cycles in previous years that saw low liquidity in July and August.

Related: Bitcoin Supply Shock Will Send BTC Price to $120,000 Standard Chartered

Despite continued positive news regarding capital inflows, some investors appear to be concerned about the lack of a clear trend.

The positive sentiment generated by the expectation that one or more companies will finally receive approval from the United States government to offer BTC as a cash exchange-traded fund may fade as the process progresses.

There also remains an air of uncertainty as the US Securities and Exchange Commission’s ongoing litigation against Binance and Coinbase continues with no clear sign as to the court’s decision.

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