According to digital asset manager Coinshares, Bitcoin (BTC) has seen a week of institutional investment inflows, breaking its five-week exit trend.
CoinShares noted that Cardano (ADA), Solana (SOL), and Polkadot (DOT) also benefited from inflows during the week, suggesting that investors are expecting a possible market turnaround on the horizon.
“The entries came later in the week during a period of significant price weakness, suggesting that investors are seeing it as a buying opportunity at current price levels.”
Ethereum (ETH) continued the seven-week bearish trend for the leading smart contract platform, becoming the only major digital asset to break out last week.
“Ethereum continues to see exits, with $16 million exits last week. The current 7-week exit stream now totals $245 million… highlighting that much of the recent bearish sentiment among investors is focused on Ethereum rather than Bitcoin.”
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 also showed signs of cooling in last week’s CoinShares analysis. This trend still seems to continue among institutional investors, with small entries this week.
Bitcoin had $14 million in inflows last week after losing nearly $320 million in exits over the past five weeks. But these small inflows weren’t enough to boost the price of BTC, and the largest cryptocurrency by market cap is trading at $35,911, down over 16% in the past seven days.
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.