According to TechFlow, James Butterfill, head of research at CoinShares, tweeted that the first two days of trading after the market fell showed that investors were avoiding Bitcoin and buying Ethereum instead.

Bitcoin saw a net outflow of $165 million this week, with a monthly net outflow of $544 million, while Ethereum saw a net inflow of $175.5 million this week, with a monthly net inflow of $170.6 million.