Bullish? $20 billion inflows into crypto market cap in 24 hours

The total cryptocurrency market cap has seen over $20 billion capital inflow in the last 24 hours, three days after seeing over $31 billion market cap outflow on September 11, during a capitulation event that was already fully rebounded by the next day.

According to data retrieved by Finbold on TradingView, the TOTAL-CRYPTOCAP index shows the 2% capital inflow from the $1.02 trillion market cap on September 13, at 16h UTC, to the local top of $1.04 trillion on September 14.

At the moment of publication, the total crypto market cap is bullish at $1.036 trillion.

Total Cryptocurrency Market Cap - CRYPTOCAP index. Source: TradingView
Total Cryptocurrency Market Cap – CRYPTOCAP index. Source: TradingView

Notably, this most recent inflow occurred three days after a massive capital outflow, from a $1.014 trillion market cap to $0.982 trillion in eight hours. For a $31.21 billion (-3%) drop. Analysts have pointed to capitulation signals, which could anticipate a longer-term price rebound.

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In this context, three cryptocurrencies got the spotlight today, as the market turned green and sentiment has changed, according to the CoinMarketCap index, considering the top 100 coins by market cap, with a 24-hour volume superior to $50,000.

  1. Axie Infinity (AXS) traded at $4.66, by press time. With 9.79% gains in the day;
  2. Hedera (HBAR) traded at $0.051, by press time. With 5.41% gains in the last 25 hours;
  3. THORChain (RUNE) traded at $1.65, by press time. With 5.2% gains in the period.
Top crypto gainers on September 14. Source: CoinMarketCap
Top crypto gainers on September 14. Source: CoinMarketCap

Although altcoins are leading individual gains, the largest inflow came from the two largest crypto: Bitcoin (BTC) and Ethereum (ETH). When these two digital assets are excluded from the CRYPTOCAP index, the resting coins had an increase of only $2 billion market cap in the same period as the $20 billion overall — accounting for only 10% of the total growth.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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