đ Institutional Inflows Shift: Solana and XRP Rise as Bitcoin and Ethereum Decline đ
In a surprising turn, while Bitcoin and Ethereum faced significant outflows, altcoins like Solana, XRP, Cardano, and Litecoin saw notable institutional inflows. According to CoinShares' latest report, crypto investment funds lost $147 million last week, primarily driven by a $159 million withdrawal from Bitcoin and $28.9 million from Ethereum.
Key Insights:
Despite the bearish trend for Bitcoin and Ethereum, Solana led the charge with $5.3 million in inflows, while XRP, Cardano, and Litecoin attracted $0.3 million, $0.3 million, and $0.9 million, respectively.
Multi-asset products saw their highest inflow at $29.4 million, continuing a streak of positive momentum for 16 weeks.
The market also noted a shift in sentiment with $2.8 million flowing into short Bitcoin products, indicating a changing outlook.
As institutional interest pivots towards altcoins, the dynamics of the crypto market are shifting. Will this trend continue?
#HBODocumentarySatoshiRevealed #BTCReboundsAfterFOMC #WeAreAllSatoshi #SCRLaunchpoolStarts! #Write2Earn! $BTC
