Bitcoin and altcoinThis week will be a critical week in the future. For Fed While the interest rate decision will be announced in June, inflation data will also come from the USA.
BTC and cryptocurrency While all eyes were on FED and US data in the market, Coinshares published its weekly cryptocurrency report.
Stating that there was an inflow of $2 billion in cryptocurrency investment products last week, Coinshares said that these inflows were in anticipation of an interest rate cut.
“Cryptocurrency investment products saw a total of $2 billion in inflows, bringing the last 5-week inflow streak to $4.3 billion. “
Bitcoin (BTC) Became the Focus!
When looking at crypto funds individually, it was seen that the majority of fund inflows were in Bitcoin.
BTCthe largest altcoin with an inflow of 1.97 billion dollars Ethereum (ETH) The spot ETF continued to see inflows due to its news and experienced an inflow of $68.9 million.
There was an outflow of $5.3 million in the short BTC fund indexed to Bitcoin’s decline.
When we look at other altcoins Phantom (FTM) 1.4 million dollars, XRP 1.2 million dollars, Solana (LEFT)experienced a small inflow of 0.7 million dollars.
“Bitcoin, which saw an inflow of $1.97 billion during the week, was again the main focus, while short Bitcoin saw a total outflow of $5.3 million for the 3rd week in a row.
Ethereum saw its best week since March, experiencing total inflows of $69 million, likely in reaction to the SEC’s surprise decision to allow spot ETFs.
Altcoins saw little movement; Phantom and XRP stood out and saw inflows of $1.4 million and $1.2 million respectively.”
When looking at regional fund inflows and outflows, it was seen that the USA ranked first with an inflow of 1.98 billion dollars.
After the USA, Hong Kong ranked second with 26.1 million dollars, and Canada ranked third with 12.7 million dollars.
Against these inflows, Sweden experienced an outflow of 9.2 million dollars.
*This is not investment advice.
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