Investment in crypto assets surge as bitcoin's price recovers

Inflows into cryptocurrency investment products more than tripled last week, with the swift spike concentrated in bitcoin as the world's most popular token headed for its strongest January performance in nearly a decade.

A week earlier, inflows into crypto products clocked in at $36 million, but 68% went into short-investment products or those that profit when the price of the underlying asset falls. "[Speculators] believe that bitcoin's winter is over," Naeem Aslam, chief market analyst at AvaTrade, said in a note late last week. At the same time, weakness in theas the Federal Reserve appears closer to pausing rate hikes has supported price gains for bitcoin and other cryptocurrencies, he said.

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