In the crypto market report prepared by the ICRYPEX Research team and covering the week of February 12 – 19, 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: February 12, 2024 .
Overview of February 12 Weekly Crypto Market Report
As we left behind the week in which CPI and PPI data were announced in the USA, which we can evaluate intensively, Bitcoin closed the week at 52137 dollars with a 7.95% gain in value. Ethereum, on the other hand, showed a stronger performance and closed the week at $ 2881 with a 14.92% gain in value. With these strong movements, Bitcoin exceeded the $ 50,000 level for the first time since December 2021. In addition, the market value of Bitcoin exceeded the $1 trillion level. During this period, the total crypto asset market value closed the week at 1.915 trillion with an 8.95% gain in value.
Bitcoin dominance closed the week at 53.56% with a 0.90% depreciation last week. Ethereum dominance closed the week at 18.08% with a strong performance, gaining 5.47% in value. When we evaluate the week in general, we left behind another positive week in crypto assets.
When we examine ETFs, there was a total inflow of 2.2 billion dollars last week (February 12-16). When we examine the details, we see that it has the highest weekly inflow among ETFs traded in America. When we examine the best-performing ETFs, we see that BlackRock’s IBIT ETF experienced an inflow of 1.6 billion dollars and the total inflow reached 5.2 billion dollars. BlackRock is followed by Fidelity and Ark Invest. These two ETFs experienced a total inflow of 1.3 billion dollars. On the Grayscale side, an outflow of $623 million was realized last week. We see that there is a slight increase compared to the previous week’s output of $411 million.
Additionally, another important detail is the level of assets under management (AUM) reached by spot Bitcoin ETFs. When we consider the spot Bitcoin ETFs traded in America, we see that they have reached the level of 37 billion dollars in terms of AUM. The AUM value of all Gold ETFs is at $93 billion. It is an important detail that Bitcoin ETFs reached such a value within the first 25 days of their trading.
Those who want to get more comprehensive information about the week covering February 12 – 19 can review Weekly Crypto Market Reports: February 12, 2024 .
