As Bitcoin Starts the Week With a Decline, Institutional Investors Are Being Selective in Altcoins! Which Altcoin Is Interested In?

The leading cryptocurrency Bitcoin and altcoins started the new week with a decline after the tremendous rise.

While the decline in BTC and altcoins worried investors, CoinShares published its weekly cryptocurrency report and said that there was an inflow of $ 43 million last week.

“Cryptocurrency investment products saw total inflows of $43 million for the 11th consecutive week, but there was a significant decrease from previous weeks.

“Recent price appreciation has also led to significant inflows into short positions as some investors see the downside potential of prices.”

When looking at crypto funds individually, it was seen that the majority of fund inflows were in Bitcoin.

While BTC experienced an inflow of $19.8 million last week, the largest altcoin Ethereum (ETH) saw an inflow of $9.7 million.

Inflows in the Bitcoin Short fund, which is indexed to the decline of BTC, also increased and it was seen that there was an inflow of 8.6 million dollars.

When we look at other altcoins, Solana (SOL) experienced an inflow of $3.1 million, XRP $0.8 million, Litecoin (LTC) an inflow of $0.7 million, and Cardano (ADA) an outflow of $0.3 million.

“In a remarkable turnaround this year, Ethereum saw inflows totaling $10 million in its sixth week. Just 7 weeks ago, Ethereum saw year-to-date outflows of $125 million. However, ETH has rebounded and reached a total of $19 million.

Solana saw $3 million in inflows and remains a favorite in the altcoin space.”

When looking at regional fund inflows and outflows, it was seen that Germany ranked first with an inflow of 29.3 million dollars.

After Germany, Switzerland ranked second with 14.3 million dollars; The USA ranked third with 14.2 million dollars, and Canada ranked fourth with 4.5 million dollars.

Against these inflows, Brazil experienced an outflow of 4.6 million dollars.

*This is not investment advice.