Billions Flow into Bitcoin and Gold as Inflation Concerns Mount

Bitcoin and gold inflows reached new highs in recent weeks, with both assets attracting billions of dollars in investment. The largest crypto ETF, IBIT, saw its net assets reach $60.3 billion on August 28, after collecting $928 million in the latest week and $1.3 billion in the previous week.

The four-week moving average for crypto fund inflows reached $1.3 billion, its highest level in ten months. Gold funds recorded a larger absolute intake, with $7.3 billion flowing into them during the same period.

The Bank of America's Bull & Bear Indicator stood at 9.7, indicating investors had not abandoned wider market risk, but were instead diversifying their portfolios within an already aggressive positioning.