As Selling Pressure Reduces, Institutional Investors Turned to Bitcoin Again, But They Are Being Selective in Altcoins! Which Altcoin Focused the Interest?

While the leading cryptocurrency Bitcoin has been consolidating at the level of $ 42,000-43,000 for a while, investors are now expecting a rise from BTC.

At this point, Coinshares, which publishes its weekly cryptocurrency report, said that there was an inflow of $ 708 million last week.

“Cryptocurrency investment products saw massive inflows last week totaling $708 million, with year-to-date inflows reaching $1.6 billion.”

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

While BTC experienced an inflow of $702 million last week, the largest altcoin, Ethereum (ETH), saw an outflow of $6.4 million.

It was seen that there was an outflow of $5.3 million in the Bitcoin Short fund, which was indexed to the decline of BTC.

When we look at other altcoins, Solana (SOL) experienced an inflow of $13.4 million, XRP $0.1 million, and Cardano (ADA) $0.6 million.

“Bitcoin saw a total of $702 million in inflows last week, accounting for 99% of all inflows.

Short-bitcoin saw a small outflow totaling $5.3 million, coinciding with the reversal of negative price momentum.

Solana saw inflows of $13 million last week, outpacing Ethereum and Avalanche, which saw outflows of $6.4 million and $1.3 million, respectively.”

When looking at regional fund inflows and outflows, it was seen that the USA ranked first with an inflow of 720 million dollars.

After the USA, Switzerland ranked second with 20.9 million dollars; Germany ranked third with 3.5 million dollars.

In response to these inflows, Canada experienced an outflow of 31.3 million dollars and Sweden an outflow of 8.2 million dollars.

*This is not investment advice.