As Bitcoin Starts the Week With a Decline, Institutional Investors Are Being Selective in Altcoins! Which Altcoin Is Interested In?
The leading cryptocurrency Bitcoin and altcoins started the new week with a decline after the tremendous rise.
While the decline in BTC and altcoins worried investors, CoinShares published its weekly cryptocurrency report and said that there was an inflow of $ 43 million last week.
“Cryptocurrency investment products saw total inflows of $43 million for the 11th consecutive week, but there was a significant decrease from previous weeks.
“Recent price appreciation has also led to significant inflows into short positions as some investors see the downside potential of prices.”
When looking at crypto funds individually, it was seen that the majority of fund inflows were in Bitcoin.
While BTC experienced an inflow of $19.8 million last week, the largest altcoin Ethereum (ETH) saw an inflow of $9.7 million.
Inflows in the Bitcoin Short fund, which is indexed to the decline of BTC, also increased and it was seen that there was an inflow of 8.6 million dollars.
When we look at other altcoins, Solana (SOL) experienced an inflow of $3.1 million, XRP $0.8 million, Litecoin (LTC) an inflow of $0.7 million, and Cardano (ADA) an outflow of $0.3 million.
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