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Bitcoin Fans Seen Bottom-Fishing After Terra-Driven Meltdown

  • Fund flows suggest investors flocked to relative safety of BTC
  • Idea that Bitcoin could be an inflation hedge is debunked: DB
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Bitcoin Holds Above $30,000 After Rout

It turns out that after the Terra stablecoin imploded last week and cryptocurrency prices plummeted, Bitcoin enthusiasts saw some buying opportunities.

Investors added $299 million to products focused on the world’s largest digital asset in the span as Bitcoin tumbled roughly 14%, according to data compiled by CoinShares. Funds focused on Solana, Ether, Polkadot and others, meanwhile, saw outflows.