The assets under management (AUM) for cryptocurrency investment products have seen a substantial increase of 36.8% in January to reach a record high of $19.7 billion. As per CryptoCompare, the bullish sentiment in the market was driven by a short squeeze and a favorable economic outlook, as indicated by the latest Consumer Price Index (CPI) report. This resulted in Bitcoin reaching its highest price since August 2022, at $23,000.