Bitcoin, Ethereum, and altcoins are experiencing sharp declines amidst macro data from the US and dwindling expectations for a Fed interest rate cut. BTC has fallen below $115,000, while downward momentum continues for ETH and altcoins. While this decline is likely to continue in the short term, CoinShares released its weekly cryptocurrency report and stated that $3.75 billion in inflows occurred last week. This was the fourth-largest weekly gain on record and the second consecutive weekly gain. Cryptocurrency investment products saw inflows of $3.75 billion, the fourth-highest on record. This pushed AUM to an all-time high of $244 billion. Ethereum Outperforms Bitcoin! When looking at individual crypto funds, it was seen that the majority of inflows were in Ethereum. Ethereum experienced a major surge and took the lead with an inflow of $2.87 billion. The positive atmosphere continued in Bitcoin (BTC), with an inflow of $552 million. When we look at other altcoins, XRP also made a big move and experienced an inflow of $125 million, Solana (SOL) $176.5 million and Sui (SUI) $11.3 million, while Toncoin (TON) experienced an outflow of $1 million and Litecoin (LTC) $0.4 million. Ethereum continues its rally, with a record $2.87 billion in inflows last week. This accounts for 77% of total weekly inflows and brings year-to-date (YTD) inflows to a record $11 billion. While Bitcoin saw modest inflows totaling $552 million, Solana and XRP assets recorded significant inflows of $176.5 million and $125.9 million, respectively. In contrast, Litecoin and Tone saw small outflows of $0.4 million and $1 million, respectively. When looking at regional fund inflows and outflows, the USA ranked first with an inflow of $3.72 billion. Following the US, Canada saw an inflow of $33.7 million and Hong Kong $20.9 million. Against these inflows, Sweden experienced an outflow of $49.9 million and Brazil $10.6 million. *This is not investment advice. Continue Reading: Critical Report Released for Bitcoin and Altcoins! Ethereum Dethroned Bitcoin, Two Altcoins Became the Focus!
