Crypto Whales Flock to Solana and XRP Amid Market Shift
The cryptocurrency market has seen significant institutional capital rotation into altcoins, particularly Solana and XRP, as traditional markets reacted to Fed Chair Kevin Warsh's hawkish remarks. Despite the decline in small-cap stocks and technology sector, crypto whales have shifted their focus from Bitcoin to other assets.
Solana and XRP ETFs saw record inflows of $154 million and $110 million, respectively, with the altcoin index rising 0.61%. Wintermute analysts noted that this confirms a 'broadening of capital rotation' across the industry.
Market levels are being supported by large funds rather than retail investors, with Bitcoin ETFs attracting $924 million over the week and Ethereum funds taking in $816 million without any outflows.
The short-term trend remains undefined, but prices are receiving strong support from underinvested large players ready to buy dips. A test will come this Friday with U.S. payroll data, where a weekly close below $72,000 would invalidate the positive scenario.