Bitcoin (BTC) and altcoins started the new week higher. Expectations and news of the end of the nearly 40-day US government shutdown were instrumental in this rise.
While the uncertainty regarding the FED’s interest rate decision is expected to disappear with the end of the market shutdown and the rise is expected to continue, CoinShares published its weekly cryptocurrency report and stated that there was an outflow of $1.17 billion last week.
“Cryptocurrency investment products experienced outflows totaling $1.17 billion for the second week in a row, driven by post-liquidity volatility and uncertainty surrounding a potential US interest rate cut.”
Outflows Concentrate on Bitcoin and Ethereum!
When looking at individual crypto funds, it was seen that the majority of outflows were in Bitcoin.
While Bitcoin experienced an outflow of $932 million, Ethereum (ETH) experienced an outflow of $438 million.
When we look at other altcoins, Sui (SUI) experienced an outflow of $3.8 million, while Solana (SOL) experienced inflows of $118.4 million, $28.2 million, and Litecoin (LTC) $1.9 million.
“The primary focus has been Bitcoin, with a total outflow of $932 million last week.
Ethereum also saw significant outflows totaling $438 million.
Altcoins continued their upward trend, with Solana seeing $118 million in inflows last week and $2.1 billion in the last nine weeks. Other notable inflows were seen in HBAR ($26.8 million) and Hyperliquid ($4.2 million).
When looking at regional fund inflows and outflows, the USA ranked first with an outflow of $1.22 billion.
Following the USA, Hong Kong experienced an outflow of $24.5 million and Sweden $18 million.
In the face of these outflows, Switzerland experienced an inflow of $49.7 million and Germany $41.3 million.
*This is not investment advice.