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Monday, June 10, 2024
HomeCryptoInstitutional investors have invested in BTC and these three altcoins

Institutional investors have invested in BTC and these three altcoins

Analyst predicts Bitcoin to reach $1 million

This week will be an important week for Bitcoin. Because the FED will announce its interest rate decision and the US will release inflation data.

While all eyes are on the Fed and US data, Coinshares has released its weekly cryptocurrency report.

Indicates there is a valuable cash flow 2 billion USD poured into cryptocurrency investment products last week, Coinshares said that these inflows were Predictions about interest rate cuts.

“Cryptocurrency investment products saw total inflows of $2 billion, bringing the inflow streak over the past five weeks to $4.3 billion.”

When looking at each cryptocurrency fund separately, it is seen that the majority of inflows are equal Bitcoin.

BTC There is capital inflow 1.97 billion USD, The largest altcoin Ethereum (ETH) continues to see capital inflows 68.9 million USD.

There was an outflow of $5.3 million in BTC short funds.

When looking at other altcoins, Fantom (FTM) received a small inflow of $1.4 million, XRP 1.2 million USD and Solana (SOL) 0.7 million USD.

“Bitcoin, which saw inflows of $1.97 billion during the week, was once again the main focus, while Bitcoin shorts saw total outflows of $5.3 million in the second week 3 in a row.

Ethereum saw its best week since March, with total inflows of $69 million, likely a reaction to the SEC’s surprise decision to allow spot ETFs.

Altcoins have little movement; Fantom and XRP stand out with inflows of $1.4 million and $1.2 million, respectively.”

When looking at the inflows and outflows of regional funds, it is found that USA topped with inflows of $1.98 billion.

After America, Hong Kong ranked second with 26.1 million USD and Canada ranked third with 12.7 million USD.

In contrast to these capital flows, Sweden suffered a capital outflow of $9.2 million.

If China lifts its cryptocurrency ban, the market will increase 100 times

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.
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