Bitcoin Flees, Ethereum and Friends Throw a Wild Party 🎉💸

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Ah, my dear reader, imagine a grand ball where Bitcoin, that haughty noble, suddenly finds itself booted from the dance floor! 🕺💨 Reports swirl like autumn leaves: the mighty institutions are fleeing Bitcoin (BTC) as if it had sneezed upon them, rushing instead into the welcoming arms of Ethereum (ETH), Solana (SOL), and the ever-peculiar XRP. According to the august scribes at CoinShares, these merry coins are seeing inflows as if they were enchanted by fairy dust, while poor BTC staggers under the weight of one of the largest weekly outflows of this very year. 🍂

US Institutions Stage a Mass Exodus from Bitcoin

Behold, the CoinShares report of October 20 unveils a tale of woe: digital asset investment products faced a week so dreary that even gloomy clouds blushed. On the fateful Friday, October 10, liquidity vanished as if into a magician’s hat, leaving net outflows of $513 million from crypto Exchange-Traded Products (ETPs)-one of the grandest exoduses of the year. Cumulative outflows since the cataclysm? A staggering $668 million. Our brave ETP investors, however, remain unflustered, while the on-chain folks have grown as bearish as a winter raven. 🦅

The greatest sorrow befell the United States, where $621 million vanished into the mist, as institutions frantically dumped Bitcoin like hot potatoes. Meanwhile, distant lands-Germany with $54.2 million, Switzerland $48 million, and Canada $42.4 million-gawked at the chaos and merrily scooped up the falling coins, like children grabbing sweets from the table. 🍬

Bitcoin, poor soul, suffered most grievously, with $946 million spiraling away. Confidence among US institutions crumbled following the Binance liquidity mishap and a most inconvenient 100% tariff hike on Chinese goods-one can almost hear Bitcoin sigh in despair. 😢

Still, the market’s pulse remained strong. Year-to-date inflows for Bitcoin totaled a modest $29.3 billion, far shy of 2024’s splendid $41.7 billion. Yet trading thrived: weekly ETP volumes danced at $51 billion, nearly double the year’s weary average. 💃

Ethereum, Solana, and XRP Sneak Into the Spotlight

While Bitcoin trudged into the shadows, ETH, SOL, and XRP seized the limelight. Ethereum, ever the clever one, attracted $205 million as institutions gleefully exploited its temporary weakness. Even a 2x leveraged Ethereum ETP joined the festivity with $457 million inflows-truly a spectacle to behold. 🎩

Solana and XRP were not to be left out, basking in anticipation of potential ETP debuts. SOL garnered $156 million, while XRP collected $73.9 million, signaling that BTC’s reign is waning and our triumphant trio of ETH, SOL, and XRP may yet rule the hearts of institutional investors. 🏰

As for market prices, CoinMarketCap whispers that Bitcoin has slipped over 3%, resting now near $107,589. Ethereum tumbled 4.8% to $3,864, Solana to $183, and XRP to $2.42, each performing a small pirouette downward: 4.78% and 1.23%, respectively. 🤹

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2025-10-22 01:29