Sub-Season Signal in Institutional Funds! Exit In Bitcoin, Entry In This Altcoin Has Happened!

bitcoin While continuing the struggle for 30,000 dollars BTC And altcoinThe Fed’s interest rate decision is expected this week.

At this point, who published the weekly cryptocurrency report, CoinSharessaid that the four-week fund inflow has been replaced by an outflow this week.

“Cryptocurrency investment products saw small outflows totaling $6.5 million last week, after inflows of $742 million seen in the previous 4 weeks.”

Looking at crypto funds individually, it was seen that the majority of fund outflows were in Bitcoin.

BTC is the largest altcoin, with an outflow of $ 13 million last week on Ethereum (ETH) $6.6 million inflow was seen.

indexed to the fall of BTC Bitcoin Short fundThere was also an output of 5.5 million dollars.

“Bitcoin was again the primary focus, as it has been in the past weeks.

While BTC saw an outflow of $ 13 million, the Bitcoin short fund also saw a total outflow of $ 5.5 million in the 13th week in a row.

Ethereum topped the leaderboard last week, seeing $6.6 million in entries, indicating that the weak mood for ETH in 2023 is slowly starting to reverse.”

While Bitcoin is experiencing an exit, the entrance to Ethereum shows that there is an altcoin season expectation in which altcoins will appreciate against Bitcoin in the upcoming period.

Looking at other altcoins Left (LEFT) 1.1 million dollars, XRP 2.6 million dollars, Polygon (MATIC) It had an inflow of $0.7 million.

Opposite these entries Litecoin (LTC) It had an output of $ 0.3 million.

Looking at the regional fund inflows and outflows, it was seen that Canada ranked first with an outflow of 12.2 million dollars.

After Canada, the USA ranks second with 8.9 million dollars; Sweden took the third place with 0.4 million dollars.

Against these exits, Switzerland is $12.1 million; Germany $1.9 million; Brazil, on the other hand, had an inflow of 0.7 million dollars.

*Not investment advice.