The post Institutions Dump Ethereum for Bitcoin : What’s Next for Crypto? appeared first on Coinpedia Fintech News
Following the ongoing global economic shift catalyzed by the recent Fed rate cut last week, more institutional investors are eyeing the Bitcoin (BTC) and altcoin industries. Furthermore, the impressive performance of Gold (XAU) is expected to boost the crypto bullish outlook in the fourth quarter.
Moreover, historical data shows that the crypto industry turned bullish in October, peaked in December, and consolidated in January.
Institutional Investors Flee Ethereum Market in favor of Bitcoin
According to a weekly report by CoinShares, digital asset investment products registered a second consecutive week of cash inflows totaling $321 million. The firm attributed the rising demand for these products to the 50 bps Fed rate cut.
While Bitcoin was the primary focus for institutional investors last week, with a net cash inflow of around $284 million, Ethereum r
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