According to digital asset manager Coinshares, Bitcoin (BTC) has seen one week of institutional investment inflows and broke its five-week exit trend. Meanwhile, 4 altcoins also experienced entry. cryptocoin.com We are giving the details as…
CoinShares: Bitcoin and these 4 altcoins witnessed weekly fund inflows
CoinShares noted that Cardano (ADA), Binance Coin (BNB), Solana (SOL) and Polkadot (DOT) benefited from fund inflows during the week, with investors expecting a possible market turnaround on the horizon. Stating that the fund inflows came later in the week during a period of significant price weakness, the firm pointed out that investors were hunting for bottom. Among major cryptos, Ethereum (ETH) was the only crypto to break out last week, continuing its seven-week bearish trend. CoinShares uses the following statements in this regard:
Ethereum saw $16 million outflows last week. The current 7-week exit stream currently totals $245 million… This highlights that most of the investors are focusing on Ethereum rather than Bitcoin for the last drop.
Ethereum lost $16 million in outflows last week, while Ethereum rivals Solana, Cardano and Polkadot saw small inflows of $1.5 million, $1.5 million and $1.4 million this week, respectively. Negative crypto sentiment showed signs of cooling in last week’s CoinShares analysis, and this trend seems to continue among institutional investors, with small inflows this week. Bitcoin saw a $14 million exit last week after losing around $320 million in exits over the past five weeks.
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