Investors are investing less in bitcoin funds

The analytical portal CoinShares shared the results of its work regarding the consideration of the situation of the inflow and outflow of funds in the field of cryptocurrency investments. They stated that between October 29 and November 4, the outflow from cryptocurrency-related investment products was about $15,600,000, while the inflow was $6,100,000.

CoinShares also note that not the most positive trend in relation to cryptocurrencies can be traced over the past eight months. One of the decisive factors of this behavior was the decision of the US Federal Reserve System to raise the key rate by 75 basis points and now the rate is 3.75-4%.

Despite the fact that the outflow of people into investment projects related to crypto-currencies was quite large, in general, the capitalization of the crypto-currency market decreased by only 0.5%.

A negative indicator was also noticed in the structures in which you can open short positions on bitcoin. A total of $7,100,000 was withdrawn from there, and a total of $28,000,000 was withdrawn in recent days.

Against the background of bitcoin, Ethereum-related funds are gaining more and more popularity. The inflow into them amounted to about $2,700,000. Previously, up to this point, most investors preferred the first cryptocurrency, and because of this, Ethereum funds showed a negative trend.

Ethereum is not the only altcoin that has been able to stand out from the background of the main cryptocurrency. For example, Ripple (XRP) showed a positive trend with a figure of + $1,100,000, and analysts decided that such an increase in popularity was due to increased confidence in the success of Ripple in a lawsuit against the SEC (Securities Commission in the United States).

Recently, Bitcoin rose from $20,700 to $21,400, after which it quickly reversed and began to fall. Now one unit of the main crypto asset is equal to $20,600. Over the past day, bitcoin has decreased by 2%. The previously named Ethereum and XRP, in turn, fell by 2.04% and 2.74%, respectively, in 24 hours, and their value is now $1,570 and $0.46.