Last week, Fed hawkishness caused institutions to dump Bitcoin, but Solana funds soared.
Last week, digital asset investments saw outflows totaling $360m despite yet another US rate cut. Investors were more affected by Jerome Powell’s comments at the FOMC post-FOMC conference than the actual rate reduction.
Powell said that there will be a further cut to the budget in December. “not a foregone conclusion,” A surprising hawkish communications that seems to have shook the mood across the markets, particularly in absence of high impact US macro data that would have been able to help traders anchor expectations.
Doing Double Duty on Solana Exposure
Solana, however, argues that the flow rate is still negative. emerged As the top performer yet again, after attracting $421 million of inflows inflows in last week. The second largest weekly figure in history, driven mainly by the US ETFs. brought The latest CoinShares Digital Asset Funds Weekly Report shows that Solana is up to $3.3 Billion for the entire year.
Ethereum’s net flows were also $57.6 Million, but the daily pattern of flow still shows mixed confidence among investors. Sui came next at $9.4 Million, followed closely by Litecoin with $1.5million, Cardano and Chainlink each at $0.7million. ETPs that track multiple assets brought in another $8.3million.
Bitcoin was the biggest drag. US Bitcoin ETFs experienced a $946 million outflow.
Last week, the United States was at the forefront of fund pessimism. $439 million left American listed investment vehicles. Sweden saw another outflow of 11 million dollars during the same time period. Other regions partially offset this weakness. Germany received 32 million dollars, while Switzerland received 30.8 million.
Canada, Australia, Brazil, and the United States all managed to achieve positive but smaller totals: $8.5 millions, $7.2million, and $1.3million.
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$100K Bitcoin’s “Make-or-Break” Only a Moment Away
There are no signs that the market will be able to recover from its choppy November. Bitcoin now has 180 consecutive days of closing above $100,000, and without any daily closures below this threshold. Swissblock describes The zone should be viewed as the structural base, and not just the psychological one. This creates a very asymmetrical setup for November.
The bullish structure will reset if the crypto asset is able to continue defending the region. This should allow the market more room for an upward leg. The analytics firm warns that if the floor gives in, there will be very little underneath the chart.
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Source: cryptopotato.com
