10x Research: The crypto market saw $3.3 billion in inflows last week, with market sentiment shifting from bearish to bullish

According to a recent market analysis by 10x Research, Bitcoin is often influenced by constantly changing narratives, rumors, and speculation, and can quickly adjust its value based on new information. Since last Friday, Bitcoin has risen sharply by 10%. What initially seemed like an oversold rebound has evolved into a breakthrough from a clear downward trend. Our key level ($61,133) has been surpassed, indicating a shift in market sentiment from bearish to bullish.

Weekend rebounds are usually driven by retail trading and positive market sentiment. Several positive factors maintained Bitcoin's momentum last Monday. After experiencing a net outflow of $8 billion in liquidity over four weeks, the crypto market welcomed a $3.3 billion influx of funds last week. This influx of funds, mainly from futures, stablecoins, and Bitcoin spot ETFs, marks a positive trend change. Additionally, Tether has issued $1 billion in USDT.