In brief
- Early-week inflows hit $1.44B before $829 million in outflows pared weekly total to $619M.
- Oil surged 60% post-Iran attack to $119 before pulling back to $102.
- Experts warn higher oil pressures equities, feeding into Bitcoin as risk asset.
Bitcoin’s bullish start to the week and the subsequent pullback align with crypto fund flows and escalating geopolitical tensions in the Middle East.
Last week, crypto fund inflows reached $1.44 billion in the first three days, coinciding with the U.S. attack on Iran, but eventual outflows toward the end of the week put the cumulative weekly flows at $619 million, according to CoinShares latest report.
Unlike in prior weeks, the U.S. investors did the heavy lifting compared to the EU and Asian counterparts.
“Bitcoin dominated flows with $521 million, while Ethereum and Solana attracted notable inflows; XRP was the only major asset to see meaningful outflows,” CoinShares head of research James Butterfill wrote.
Bitcoin’s price action shows it followed the money, rallying nearly 11% from $66,356 to $73,648 between March 1 and 5. However, it has dropped nearly 8% from last Thursday and is currently trading at $67,777, according to data from…
