The latest weekly crypto asset fund flows report from CoinShares shows a significant turnaround in sentiment.

This recovery follows a prolonged period of bearish sentiment, with the last instance of sustained inflows occurring more than a month ago.

The latest weekly cryptocurrency asset fund flows report from CoinShares has revealed a significant turnaround in sentiment.

According to the European digital asset manager, crypto investment products recorded net inflows of $644 million last week. This marks a surprising recovery following five consecutive weeks of outflows.

The sustained inflows come after a prolonged period of bearish sentiment. The last instance of seven consecutive days of inflows occurred over a month ago.

Bitcoin Leads Recovery as Ethereum Sees Largest Outflows

CoinShares’ Head of Research, James Butterfill, noted that “total assets under management have risen by 6.3% from their low point on March 10th.” He further disclosed that inflows were recorded every single day of the week.

This trend is a clear reversal from the 17 consecutive days of outflows that preceded it.

The report highlights a strong recovery in investor sentiment toward digital assets. Among the major cryptocurrencies, Bitcoin played a dominant role in last week’s inflow data.

The flagship cryptocurrency attracted new capital of $724 million, effectively ending its own five-week outflow streak, which had seen a total of $5.4 billion in outflows.

Furthermore, short Bitcoin products, which profit from BTC price declines, registered outflows for the third consecutive week, amounting to $7.1 million. This signals waning bearish expectations from investors.

While Bitcoin led the inflows, the altcoin space showed mixed results. Ethereum saw the most significant outflows of any digital asset, with $86 million exiting ETH investment products.

Other altcoins, including Sui and Polkadot, also posted outflows of $1.3 million each. Tron and Algorand lost $0.95 million and $0.82 million, respectively.

In contrast, Solana emerged as the top altcoin in terms of investor interest, with $6.4 million in inflows. Polygon and Chainlink followed with modest gains of $0.4 million and $0.2 million.

Regionally, the United States was responsible for the majority of inflows at $632 million, while Switzerland, Germany, and Hong Kong contributed smaller but still positive amounts.

Crypto Market Performance

According to crypto market prices at 07:28 (GMT+1) on Monday, April 3, the crypto market appears to have started this week on a bullish note.

Particularly, Bitcoin picked up a notable recovery with the asset rising by nearly 5% to reclaim its price back above $87,000.

According to data from Benzinga Pro, BTC trades at a price above $87,517, marking an approximately 5.1% increase over the past seven days.

Interestingly, despite this, the asset is still down by a double digit from its all-time high (ATH) above $109,000 registered in January.

According to data from Coingecko, at current market prices, BTC is down by roughly 19.8% from this peak.

Interestingly, not only BTC started the Monday green, even Ethereum that has been consolidating inside a bearish trend has also seen an uptick.

Over the past 24-hour period, the asset has risen by 3.3% and in the past week, ETH has surged by nearly 10% bringing its its value to a current trading price of $2,083.