Crypto inflows hit $4.9 billion as of mid-April -Coinshares data – Reuters

Crypto inflows hit $4.9 billion as of mid-April -Coinshares data – Reuters

A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken March 15, 2021. REUTERS/Dado Ruvic/IllustrationInflows into cryptocurrency funds and products hit $4.9 billion as of April 16, with the pace of increase slowing a bit in the first two weeks of the month after hitting record levels in the first quarter, data from digital currency manager Coinshares showed on Tuesday.Inflows in the first two weeks of April hit about $400 million to $4.9 billion, or about 9% higher than an all-time high of $4.5 billion in the first three months of the year.The pace of inflows had already moderated in the first quarter, after a 240% surge in the fourth. read more That said, inflows in the second week of April totaled $233 million, the largest since early March, Coinshares said.Bitcoin's rise also slowed in the first two weeks of the month, growing just 5.7%, although it hit a record just under $65,000 during that period. After touching that all-time peak last week, bitcoin has plunged nearly 18% in six days. Bitcoin last traded up 0.8% at $56,161 ."There were ... signs of excessive exuberance in the market, and a correction