XRP News Today: Crypto Funds See $1.24 Billion Inflows Amid Bullish Sentiment

Crypto funds experienced a significant surge in inflows, totaling $1.24 billion for the week, marking the 10th consecutive week of positive inflows. This trend indicates a strong bullish sentiment among institutional investors, as reported on June 23. The year-to-date inflows have reached a new high of $15.1 billion, reflecting a sustained interest in the crypto market despite recent geopolitical tensions.

Bitcoin (BTC) led the inflows with $1.1 billion, showing that investors were capitalizing on the weakness in the market. Despite sell-offs in the previous two weeks due to the Israel-Iran conflict, Bitcoin managed to recover. Additionally, minor outflows of $1.4 million from short-Bitcoin products further supported the bullish sentiment.

Ethereum (ETH) maintained its positive momentum for the 9th consecutive week, with $124 million in inflows. This marks the longest run of inflows since mid-2021, indicating a strong and sustained interest in the second-largest cryptocurrency by market capitalization.

Institutional demand for Solana (SOL) and XRP also continued, with inflows of $2.78 million and $2.69 million, respectively. This buying activity is supported by positive developments from the US SEC, which has updated the approval odds for spot Solana and XRP ETFs to 95%.

Other altcoins such as Litecoin (LTC), SUI, Cardano (ADA), and Chainlink (LINK) also witnessed inflows, although the buying activity for these altcoins remained relatively low compared to Bitcoin and Ethereum.

Institutional investors in the United States were largely bullish, with spot Bitcoin and Ethereum ETFs, along with other funds, seeing a net inflow of $1.25 billion. Canada and Germany also recorded inflows of $20.9 million and $10.9 million, respectively. In contrast, crypto funds in Switzerland recorded outflows of $7.7 million.

Experts such as Arthur Hayes, Mike Novogratz, and Changpeng “CZ” Zhao expressed bullish sentiment despite recent market volatility. Hayes noted that the Bitcoin price drop under $99K and its immediate recovery to above $100K indicated confidence among investors. Novogratz shared a bullish scenario for risk assets, including Bitcoin, suggesting that concerns over geopolitical tensions would fade if there is no major counterattack by Iran. CZ reminded the crypto community that price dips are common before moving to the next all-time high, and only a few strong coins with long-term staying power and growth potential will make new all-time highs.

Bitcoin's price briefly dipped below $100K, falling 6% to a low of $98.2K, marking its lowest move since breaching the $100K psychological level. The selloff extended across major altcoins, catalyzed by Iran’s threat to shut the Strait of Hormuz, a move that would severely disrupt global oil flows. QCP Capital noted that BTC’s reclaim of $100K suggested that the weekend drawdown was macro-driven, with investors turning to crypto as a hedge while awaiting equity futures to open. The move amid low liquidity triggered over $1 billion in liquidations across the market.