Institutional Investors Change Direction: They Sold Bitcoin (BTC) and Ethereum (ETH), and Invested the Money in Seven Altcoins! “There Are Surprises!”
Uncertainty surrounding the US-Iran war continues to affect Bitcoin (BTC) and altcoins. This, combined with rising inflation concerns, has led to price declines. Coinshares has released its weekly cryptocurrency report, stating that there was a $1.07 billion outflow last week.
Bitcoin (BTC) Topped the List for Outflows!
Looking at crypto funds individually, outflows are concentrated in Bitcoin. BTC experienced outflows of $981.5 million, while the largest altcoin, Ethereum (ETH), saw outflows of $249.3 million.
Looking at other altcoins, a positive sentiment prevails. According to the data, XRP saw inflows of $67.6 million, Solana (SOL) $55.1 million, Toncoin (TON) $7.7 million, Chainlink (LINK) $3.9 million, Sui (SUI) $4.7 million, ONDO $4.1 million, and Dogecoin (DOGE) $3.2 million.
Looking at regional fund inflows and outflows, the US ranked first with an outflow of $1.14 billion.
After the US, Sweden and Hong Kong experienced minor outflows. In contrast, Switzerland, Germany, and Canada saw significant inflows.
*This is not investment advice.
Continue Reading: Institutional Investors Change Direction: They Sold Bitcoin (BTC) and Ethereum (ETH), and Invested the Money in Seven Altcoins! “There Are Surprises!”
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