The co-founder of leading crypto analytics firm Glassnode said that crypto investors are starting to take more risk by moving capital to altcoins.
Yann Allemann told his 52,000 Twitter followers that while Bitcoin (BTC) received most of the capital inflows last week, some altcoins are also getting attention. stressed.
“Last week there was a $193 million entry in crypto.
Bitcoin inflows of $ 98 million, SOL inflows of $ 87 million, ETH inflows of $ 10 million
Investors are turning to riskier altcoins. See for yourself.”
Allemann seems to be highlighting the metric that looks at Bitcoin’s returns – altcoins’ returns. The metric featured above is currently on a sharp decline, showing altcoins gaining ground.
Altcoins vs Bitcoin: Institutional Introduction
Additionally, in the latest Uncharted Bites edition of Glassnode, Allemann noted that institutions are still pouring capital into Bitcoin despite the “fragile” macroeconomic backdrop.
Bitcoin, on the other hand, has seen significant institutional inflows from the Grayscale Bitcoin Trust and the Purpose Bitcoin ETF (Figure 4, red areas). The Purpose Bitcoin ETF has signaled stronger demand for Bitcoin as an alternative risk investment.
According to the Glassnode executive, institutional demand for BTC could indicate the start of capital rotation to altcoins.
“We see the potential for a big move across crypto since bullish sentiment spreads to other assets beyond Bitcoin.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.