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Money Outflow from Bitcoin Funds Stopped After 6 Weeks! Interest in This Altcoin Reached a Record Level!

source-logo  en.bitcoinsistemi.com  + 1 more 02 October 2023 13:07, UTC

While Bitcoin continues to remain above $ 28,000 with the rise it experienced yesterday, Coinshares published its weekly cryptocurrency report.

The outflows to the Coinshares report for 6 consecutive weeks were replaced by an inflow of $21 million last week.

“Cryptocurrency investment products saw total inflows of $21 million last week for the first time in 6 weeks.

“We believe these inflows are a reaction to positive price momentum, fears over US government debt prices, and recent events regarding government finances.”

When looking at crypto funds individually, it was seen that the majority of fund inflows were in Bitcoin.

While BTC experienced an inflow of 20.4 million dollars last week, the largest altcoin Ethereum (ETH) also experienced an outflow of 1.5 million dollars.

Contrary to BTC, the Bitcoin Short fund, which was indexed to the decline of BTC, experienced an outflow of 1.5 million dollars.

Against Ethereum, Solana (SOL) experienced an inflow of $5.1 million.

“Solana continues to shine with $5 million in admissions, celebrating its 27th week of entries this year and only 4 weeks out.”

Considering regional fund inflows and outflows, the USA ranked first with a fund outflow of 18.5 million dollars, followed by Sweden with 1.8 million dollars.

Against these outflows, Germany lost 17.7 million dollars; Canada had an inflow of 17.2 million dollars and Switzerland had an inflow of 7.4 million dollars.

*This is not investment advice.


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