In the crypto market report prepared by the ICRYPEX Research team and covering the week of April 8 – 15, we compiled the current developments regarding crypto assets, price movements of crypto assets and macroeconomy.
You can take a look at the general flow of this report below and access all the developments that took place in the 7-day period at Weekly Crypto Market Reports: April 8, 2024.
Overview of April 8 Weekly Crypto Market Report
Last week, Bitcoin closed the week with a 5% loss in value, especially due to the selling pressure on Friday and Saturday. Geopolitical risks were especially effective in this process. With the decline, Bitcoin tested the $60,600 level as the bottom and then received an upward reaction. The total cryptocurrency market value reached 2.5 trillion dollars. Additionally, Bitcoin dominance has moved up to 57%, the highest level in the last three years. Approximately 15% decreases were observed in the top 20 cryptocurrencies by market value. Ethereum, on the other hand, received an upward reaction again while dropping a needle below the $ 3000 level during this downward movement.
Looking at ETF performances, GBTC outflows were at the level of 303 million and 154 million dollars at the beginning of the week, especially on Monday and Tuesday, and decreased to 17 million dollars on Wednesday. Due to the high outflow seen at the beginning of the week, total outflows of 223 and 18 million dollars were realized. IBIT, which has shown a strong performance, experienced money inflows every day last week. In the case of IBIT, the total money inflow reached 15 billion dollars and a new record was broken.
Those who want to get more comprehensive information about the week covering April 8 – 15 can review Weekly Crypto Market Reports: April 8, 2024.