Attention These Altcoin Investors: Institutional Investors Sold Again, Bought Bitcoin (BTC)!

Bitcoin started the new week on the rise and the price rose above $ 64,000. While this increased investors’ expectations for an increase, CoinShares published its weekly cryptocurrency report and said that there was an inflow of $ 407 million last week.

“Cryptocurrency investment products saw an inflow of $407 million.

“Investor decisions are likely to be influenced more by the upcoming US elections than monetary policy.”

Bitcoin (BTC) Took the Biggest Share, Ethereum Outflows Continued!

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

While BTC saw an inflow of $419 million, Ethereum (ETH) continued its outflows, experiencing an outflow of $9.8 million last week.

There was also an outflow of $6.3 million in the Bitcoin Short fund, which was indexed to the fall of BTC.

Looking at other altcoins, XRP saw an inflow of $1.1 million and Solana (SOL) saw an inflow of $0.6 million.

“Bitcoin saw a total inflow of $419 million, making it the biggest beneficiary of recent political changes. In comparison, the short Bitcoin fund saw an outflow of $6.3 million.

Ethereum continued its upward trend, experiencing a total outflow of $9.8 million last week.”

When looking at regional fund inflows and outflows, it was seen that the USA ranked first with an inflow of 406 million dollars.

Canada came in second after the United States with $4.8 million.

Against these inflows, Sweden experienced an outflow of $3.9 million.

*This is not investment advice.