10x Research: The crypto market welcomed an inflow of 3.3 billion US dollars last week, and the market sentiment has turned bullish

The latest market analysis from 10x Research shows that after experiencing a net outflow of $8 billion over four weeks, the crypto market welcomed an inflow of $3.3 billion last week, marking a shift in market sentiment from bearish to bullish. Bitcoin is often influenced by ever-changing narratives, rumors and speculation, with its value quickly adjusting based on new information.

Since last Friday, Bitcoin has surged by 10%, initially appearing as an oversold bounce evolving into a breakout from a clear downtrend with the key level of $61,133 being surpassed. This weekend rebound is typically driven by retail trading and positive market sentiment which maintained Bitcoin's momentum into Monday last week. The inflows mainly come from futures, stablecoins and spot ETFs for Bitcoin indicating a positive trend change. In addition, Tether issued another $1 billion USDT further boosting the favorable market trend.