As Bitcoin starts the new week on the rise, investors are focused on the US CPI and PPI data to be released this week.
As the critical days for BTC approach, CoinShares released its weekly cryptocurrency report and said that there was an outflow of $147 million last week.
“Cryptocurrency investment products saw small outflows totaling $147 million last week. This was likely due to higher-than-expected economic data last week.”
Investors' Focus Became Bitcoin!
When looking at individual crypto funds, it was seen that the majority of fund outflows were in Bitcoin.
While BTC experienced an outflow of $159 million, Ethereum (ETH) experienced an outflow of $28.9 million.
There was also an inflow of $2.8 million in the Bitcoin Short fund, which was indexed to the fall of BTC.
When we look at other altcoins, Litecoin (LTC) experienced an inflow of $0.9 million, XRP $0.3 million, and Solana (SOL) $5.3 million.
“Investors focused on Bitcoin and there was an outflow of $159 million. There was an inflow of $2.8 million in the Bitcoin Short fund.
Ethereum has also been affected by the downtrend, with $29 million outflows last week and investor interest in the asset remaining weak.”
When looking at regional fund inflows and outflows, it was seen that the USA ranked first with an outflow of 209 million dollars.
Germany came in second after the United States with $8.3 million.
Of these inflows, Canada experienced an inflow of $43 million.
*This is not investment advice.