BTC inflow of $167 million… Funds outflow from ETH, XRP, and SOL
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According to data analytics firm SoSoValue, U.S. spot Bitcoin ETFs recorded a net inflow of $167 million (approximately 220 billion won) on the 10th. While outflows of approximately $577 million occurred on Thursday and Friday, net inflows returned on Monday.
Bitcoin surged to around $70,000 during the same period, rekindling investment demand. Market analysts suggest institutional funds are shifting towards Bitcoin rather than altcoins.
Meanwhile, altcoin ETFs continued to see capital outflows. The Ethereum ETF recorded a net outflow of $51 million, the XRP ETF $18 million, and the Solana ETF $2.5 million. All three asset ETFs experienced outflows for three consecutive trading days.
In particular, the Ethereum ETF recorded the largest outflow, with a cumulative outflow of $225 million over three days. The XRP ETF saw an outflow of approximately $41 million over the same period, and the Solana ETF saw an outflow of approximately $16 million.
The market is also seeing losses from short-term investors. IT, an analyst at on-chain analytics firm CryptoQuant, analyzed that the Short-Term Price Percentage (SOPR) indicator, representing long-term and short-term holders, has fallen to 0.89. This indicator indicates that short-term holders are selling at a loss.
Analysts assess that the market is currently under pressure, but has not yet reached a point of complete surrender. Accordingly, some predict that it is still too early to determine whether a structural bottom has been formed for Bitcoin.
Reporter Jeong Ha-yeon yomwork8824@blockstreet.co.kr
