CoinShares Published Its New Report: Which Altcoins Did Institutional Investors Who Sold Bitcoin Buy? What’s the Latest Situation?
Bitcoin started September with a decline, falling to $57,000. While the downward trend in BTC is expected to continue, Coinshares has published its weekly cryptocurrency report.
Coinshares, which stated that cryptocurrency investment products experienced an outflow of $305 million last week, wrote that negative sentiment about the market prevailed among investors.
“Last week, cryptocurrency investment products saw a total outflow of $305 million, while there was widespread negative sentiment among investors and various regions.”
Bitcoin (BTC) Was the Focus of the Exits!
When looking at individual crypto funds, it was seen that the majority of fund outflows were in Bitcoin.
While BTC experienced an outflow of $319 million, Ethereum (ETH) experienced an outflow of $5.7 million.
There was an inflow of $4.4 million in the Bitcoin Short fund, which was indexed to the fall of BTC.
Looking at other altcoins, Solana (SOL) saw small inflows of $7.6 million, while Cardano (ADA) and Litecoin (LTC) saw small inflows of $0.3 million.
“Negative sentiment focused on Bitcoin, which saw outflows of $319 million. Short Bitcoin investment products saw inflows totaling $4.4 million for the second week in a row, the most since March of this year.
Ethereum saw an outflow of $5.7 million. Solana saw an inflow of $7.6 million.”
When looking at regional fund inflows and outflows, it was seen that the USA ranked first with an outflow of 318 million dollars.
Germany came in second after the United States with $7.3 million.
In the face of these outflows, Canada experienced an inflow of $13.2 million and Switzerland an inflow of $5.5 million.
*This is not investment advice.
