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Capital flows into Bitcoin stopped, shifting to these Altcoins

Capital flows into Bitcoin stopped

CoinShares has published its weekly cryptocurrency report and reported an outflow of $16 million last week.

Bitcoin and top altcoins started the new week with a decline.

While the decline in BTC and altcoins has investors worried, CoinShares published its weekly cryptocurrency report and said there was an outflow of $16 million last week.

Citing a small outflow after 11 weeks, CoinShares said:

“Cryptocurrency investment products saw small outflows totaling $15.8 million last week, ending an 11-week streak of inflows.

However, trading activity remained above the yearly average, totaling $3.6 billion for the week.”

When looking at individual crypto funds, it is seen that the majority of capital outflows are in Bitcoin.

While BTC experienced a $32.8 million outflow last week, the largest altcoin Ethereum (ETH) saw a $4.3 million outflow.

There was also an outflow from the Bitcoin Short fund, which was $0.3 million.

When looking at altcoins, analysts see a general pattern of capital inflows. At this time, Solana (SOL) has an inflow of $10.6 million, XRP has an inflow of $2.7 million, and Cardano (ADA) has an inflow of $3 million, while Litecoin (LTC) and Avalanche ( AVAX) had a capital outflow of 0.1 million USD.

“While Bitcoin experienced outflows this week, altcoins bucked the trend seeing inflows of $21 million.

Among the major beneficiaries of this trend, SOL received inflows of $10.6 million, Cardano $3 million, XRP $2.7 million, and Chainlink (LINK) $2 million.”

When looking at regional fund inflows and outflows, it was found that the United States ranked first with outflows of $18.3 million.

After the US, Germany ranked second with 9.7 million USD; Sweden ranked third with 4.2 million USD.

Canada had inflows of $6.9 million and Brazil had inflows of $3.5 million.

Capital flows into Bitcoin stopped
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