Following the sharp decline in Bitcoin, Ethereum, and altcoins, recovery has begun. As BTC surpassed $115,000, altcoins also experienced upward movement. While this is expected to continue, CoinShares released its weekly cryptocurrency report and said that there was an outflow of $223 million last week. “Cryptocurrency investment products saw an outflow of $223 million, compared to the $883 million inflow at the beginning of the week. This is likely a reaction to the Fed's hawkish signals and stronger-than-expected US economic data. Bitcoin Led the Exits! When looking at individual crypto funds, it was seen that the majority of outflows were in Bitcoin. However, Ethereum also experienced a major surge. While BTC experienced an outflow of $404 million, Ethereum (ETH) remained positive, experiencing an inflow of $133.9 million. When we look at other altcoins, XRP experienced an inflow of $33.1 million, Solana (SOL) $8.8 million, and Cardano (ADA) $1.3 million, while Sui (SUI) experienced an outflow of $0.8 million following the inflows. Bitcoin was hit the hardest by the adverse weather conditions, seeing outflows of $404 million during the week. Despite this, inflows remain strong at $20 billion year-to-date (YTD). Despite experiencing a decline later in the week, Ethereum saw a total net inflow of $133 million in its 15th week, creating a strong positive sentiment for the asset. XRP, Solana, and SEI also saw good support with inflows of $31.2 million, $8.8 million, and $5.8 million respectively. Aave and Sui saw smaller inflows of $1.2 million and $0.8 million, respectively.” When looking at regional fund inflows and outflows, the USA ranked first with an outflow of $383 million. Following the USA, Germany experienced an outflow of $35.5 million and Sweden $33.3 million. In the face of these outflows, Hong Kong experienced an inflow of $170.4 million and Switzerland $52.4 million. *This is not investment advice. Continue Reading: The Weekly Critical Report for Bitcoin (BTC), Ethereum (ETH), XRP and Solana (SOL) Has Arrived: Bitcoin Declined, These Three Altcoins Made a Big Attack!
