Institutional Whales’ Rally Strategy Revealed: “They Sell on Solana, Bought Bitcoin and These Altcoins!”

As the leading cryptocurrency Bitcoin exceeds $65,000 during the day and approaches its ATH of $69,000, Coinshares has published its weekly cryptocurrency report.

Stating that it experienced $1.84 billion inflows into cryptocurrency investment products last week, Coinshares said that the inflows continued and saw the second largest weekly inflow on record.

“Cryptocurrency investment products saw the second largest weekly inflow on record, totaling $1.84 billion. Transaction volumes in investment products reached a record of over $30 billion this week.”

While Bitcoin Breaks a Record Again, the Number of Those Expecting a Decline in BTC Is Increasing!

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

BTC experienced inflows of $1.72 billion, representing over 90% of all inflows, while the largest altcoin, Ethereum (ETH), saw inflows of $84.7 million.

In the Bitcoin Short fund, which is indexed to the decline of BTC, the inflows increased compared to last week, and there was an inflow of 22.2 million dollars.

When we look at other altcoins, Litecoin (LTC) experienced an inflow of $1.2 million, XRP $2.5 million, and Chainlink (LINK) $1.6 million; Solana (SOL) experienced an outflow of $11.9 million.

“94% of inflows were into Bitcoin, totaling $1.72 billion, but recent price movements caused short-term investors to double down and further inflows into the short Bitcoin fund amounting to $22 million.

Ethereum saw its largest weekly inflow since mid-July 2022, totaling $85 million last week.

“While XRP recorded an inflow of $2.5 million, Solana saw an outflow of $12 million.”

When looking at regional fund inflows and outflows, it was seen that the USA ranked first with an inflow of 1.88 billion dollars.

After the USA, Switzerland ranked second with 19.6 million dollars.

Against these inflows, Germany received 34.8 million dollars; Sweden $31.6 million; Canada, on the other hand, experienced an outflow of 23.1 million dollars.

*This is not investment advice.

Source