The altcoin landscape is seeing significant shifts, with XRP attracting steady investments while Solana experiences a rebound and Sui’s demand sharply declines.
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Crypto funds witnessed an influx of $2 billion last week, marking a total of $5.4 billion over the last fortnight.
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Investors are curious if this trend will persist, especially with the upcoming Federal Reserve rate decision looming.
Investor interest in crypto has surged for the second consecutive week, as indicated by CoinShares’ weekly report, which recorded $2 billion in inflows last week.
Source: CoinShares
In the preceding week, crypto ETFs recorded a remarkable $3.4 billion in demand, spurred by President Donald Trump suggesting a potential US-China trade deal. This macroeconomic shift has ignited a renewed risk-on sentiment across the crypto space.
Bitcoin, ETH, XRP Top Demand
When analyzing asset performance, Bitcoin (BTC) products led the pack with an impressive $1.84 billion in inflows, closely followed by Ethereum (ETH) with $149 million.
Source: CoinShares
XRP has solidified its position as the leading altcoin with $10.5 million in inflows last week, although this was down from $31.6 million the prior week. Meanwhile, Solana’s (SOL) demand reached $6 million, rebounding from significant outflows of $5.7 million. In stark contrast, Sui’s (SUI) performance plummeted with inflows shrinking nearly 20-fold from $20 million to below $0.5 million.
Overall, XRP investors demonstrated resilience, while SOL showcased the most substantial rebound in interest. Bitcoin’s continued influx has driven its price to nearly $98,000, although it recently experienced a 4% dip amidst market fluctuations.
Source: BTC/USDT, TradingView
Currently, Bitcoin appears to be stabilizing around the $92,000 support range. Provided price movements hold above previous lows and core moving averages, bullish prospects toward the $100,000 mark could remain viable. A significant breach below $92,000 and these moving averages, however, could jeopardize the bullish outlook.
Conclusion
In summary, the crypto market is experiencing dynamic changes, with XRP maintaining its edge among altcoins while Solana showcases potential for resurgence. Investors will be keenly observing Bitcoin’s price response to the upcoming Federal Reserve decision, which could significantly impact market sentiment moving forward.
