{"id":553808,"date":"2023-10-03T00:00:57","date_gmt":"2023-10-03T00:00:57","guid":{"rendered":"https:\/\/wncen.com\/?p=553808"},"modified":"2024-06-11T08:14:09","modified_gmt":"2024-06-11T08:14:09","slug":"crypto-fund-flows-bitcoin-leads-as-solana-follows-but-whys-ethereum-left-behind","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-fund-flows-bitcoin-leads-as-solana-follows-but-whys-ethereum-left-behind\/","title":{"rendered":"Crypto Fund Flows: Bitcoin Leads As Solana Follows, But Why\u2019s Ethereum Left Behind?"},"content":{"rendered":"

Investment products in the crypto arena have recently reported<\/a> net inflows of $21 million, breaking a persistent six-week drought<\/a>. With the crypto market\u2019s future continuously debated among experts<\/a>, such inflows mark a possible resurgence of confidence among investors.<\/span><\/p>\n

The top cryptocurrency remained at the forefront of this resurgence, capturing most of the inflow. But as Bitcoin continues its dominance, emerging coins like Solana also signify the diversifying landscape of the crypto world. Amid these positive indicators, the Ethereum token, however, tells a different story.<\/span><\/p>\n

Related Reading: Crypto\u2019s Six-Week Bleed Out: XRP And Solana Defy The Outflow Downtrend<\/a><\/div>\n

Bitcoin And Solana Shine, Ethereum Faces The Heat<\/span><\/h2>\n

Leading the pack, Bitcoin funds reported an inflow of roughly $20.4 million in the past week. In sharp contrast, investment products betting on Bitcoin’s decline<\/a> witnessed an outflow of $1.5 million, suggesting a significant retreat from negative market sentiments. <\/span><\/p>\n

James Butterfill, CoinShares’ Head of Research, pointed out the sustained relinquishment of short positions on Bitcoin, indicating a potential bullish sentiment<\/a> for the top crypto.<\/span><\/p>\n

Solana, a rising star in the crypto ecosystem, continued to impress. Reporting inflows for the 27th week this year, it added $5.1 million to its coffers, reiterating its strong market position. <\/span><\/p>\n

Butterfill acclaimed Solana’s consistent performance, noting, “Solana continues to shine,” emphasizing its resilience in a year that has seen numerous altcoins fluctuate.<\/span><\/p>\n

\"Crypto
Crypto market weekly fund flows. | Source: CoinShares<\/a><\/figcaption><\/figure>\n

On the flip side, Ethereum products<\/a> haven’t mirrored this positive trend. Despite being one of the leading cryptocurrencies, it registered outflows for the seventh week. <\/span>Butterfill labeled Ethereum as the current “least loved” altcoin.<\/span><\/p>\n

Global Reactions And Influencing Factors On Crypto<\/span><\/h2>\n

Geographical dissections of the inflow trends offer noteworthy insights. While Europe and Canada embraced the crypto resurgence with inflows of $23 million and $17 million, respectively, the US displayed contrasting sentiments, pulling out $19 million.<\/span><\/p>\n

Butterfill links this unexpected inflow towards the week’s end to a blend of positive price momentum, apprehensions regarding US government debt prices, and the recent impasse over governmental funding. <\/span><\/p>\n

However, Butterfill also highlighted the low trading volumes across the investment product<\/a> and crypto markets.<\/span><\/p>\n

Amid these crypto currents, blockchain equities failed to catch the same wind, seeing outflows totaling $8.4 million. This trend mirrors the broader tech sector’s direction, which also leaned towards a sell-off, as pointed out by Butterfill.<\/span><\/p>\n

Related Reading: Bitcoin Eyes Turnaround: Could A New All-Time High Be On The Horizon? Analyst Predicts<\/a><\/div>\n

Notably, the fund flows in Bitcoin, Ethereum, and Solana appear reflected even in their prices. While Bitcoin and Solana have spiked over the past day, recording a 3.3% and 6.2% upward trajectory, Ethereum has only seen a slight upward move of just 0.5% over the same period.<\/p>\n

\"Bitcoin
Bitcoin (BTC) price is moving sideways on the 4-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured image from iStock, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Investment products in the crypto arena have recently reported net inflows of $21 million, breaking a persistent six-week drought. With the crypto market\u2019s future continuously debated among experts, such inflows mark a possible resurgence of confidence among investors. The top cryptocurrency remained at the forefront of this resurgence, capturing most of the inflow. But as Bitcoin continues its dominance, emerging coins like Solana also signify the diversifying landscape of the crypto world. Amid these positive indicators, the Ethereum token, however, tells a different story. Related Reading: Crypto\u2019s Six-Week Bleed Out: XRP And Solana Defy The Outflow Downtrend Bitcoin And Solana Shine, Ethereum Faces The Heat Leading the pack, Bitcoin funds reported an inflow of roughly $20.4 million in the past week. In sharp contrast, investment products betting on Bitcoin’s decline witnessed an outflow of $1.5 million, suggesting a significant retreat from negative market sentiments. James Butterfill, CoinShares’ Head of Research, pointed out the sustained relinquishment of short positions on Bitcoin, indicating a potential bullish sentiment for the top crypto. Solana, a rising star in the crypto ecosystem, continued to impress. Reporting inflows for the 27th week this year, it added $5.1 million to its coffers, reiterating its strong market position. Butterfill acclaimed Solana’s consistent performance, noting, “Solana continues to shine,” emphasizing its resilience in a year that has seen numerous altcoins fluctuate. On the flip side, Ethereum products haven’t mirrored this positive trend. Despite being one of the leading cryptocurrencies, it registered outflows for the seventh week. Butterfill labeled Ethereum as the current “least loved” altcoin. Global Reactions And Influencing Factors On Crypto Geographical dissections of the inflow trends offer noteworthy insights. While Europe and Canada embraced the crypto resurgence with inflows of $23 million and $17 million, respectively, the US displayed contrasting sentiments, pulling out $19 million. Butterfill links this unexpected inflow towards the week’s end to a blend of positive price momentum, apprehensions regarding US government debt prices, and the recent impasse over governmental funding. However, Butterfill also highlighted the low trading volumes across the investment product and crypto markets. Amid these crypto currents, blockchain equities failed to catch the same wind, seeing outflows totaling $8.4 million. This trend mirrors the broader tech sector’s direction, which also leaned towards a sell-off, as pointed out by Butterfill. Related Reading: Bitcoin Eyes Turnaround: Could A New All-Time High Be On The Horizon? Analyst Predicts Notably, the fund flows in Bitcoin, Ethereum, and Solana appear reflected even in their prices. While Bitcoin and Solana have spiked over the past day, recording a 3.3% and 6.2% upward trajectory, Ethereum has only seen a slight upward move of just 0.5% over the same period. Featured image from iStock, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":521312,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,78790,6664,12837,83626,83627],"class_list":["post-553808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusdt","tag-crypto","tag-sol","tag-solana","tag-solusdt"],"acf":[],"yoast_head":"\nCrypto Fund Flows: Bitcoin Leads As Solana Follows, But Why\u2019s Ethereum Left Behind?<\/title>\n<meta name=\"description\" content=\"Investment products in the crypto arena have recently reported net inflows of $21 million, breaking a persistent six-week drought...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Fund Flows: Bitcoin Leads As Solana Follows, But Why\u2019s Ethereum Left Behind?","url":"http:\/\/wncen.com\/news\/crypto-fund-flows-bitcoin-leads-as-solana-follows-but-whys-ethereum-left-behind\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/crypto-fund-flows-bitcoin-leads-as-solana-follows-but-whys-ethereum-left-behind\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Bitcoin.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Bitcoin.jpeg?fit=1140%2C815"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusdt","crypto","sol","solana","solusdt"],"dateCreated":"2023-10-03T00:00:57Z","datePublished":"2023-10-03T00:00:57Z","dateModified":"2024-06-11T08:14:09Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Fund Flows: Bitcoin Leads As Solana Follows, But Why\\u2019s Ethereum Left Behind?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/crypto-fund-flows-bitcoin-leads-as-solana-follows-but-whys-ethereum-left-behind\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/crypto-fund-flows-bitcoin-leads-as-solana-follows-but-whys-ethereum-left-behind\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Bitcoin.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Bitcoin.jpeg?fit=1140%2C815\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusdt\",\"crypto\",\"sol\",\"solana\",\"solusdt\"],\"dateCreated\":\"2023-10-03T00:00:57Z\",\"datePublished\":\"2023-10-03T00:00:57Z\",\"dateModified\":\"2024-06-11T08:14:09Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Bitcoin.jpeg?fit=1140%2C815","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/553808","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=553808"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/553808\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/521312"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=553808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=553808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=553808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}