Whale Funds Make Big Move to XRP and Solana as Bitcoin (BTC) Pauses

▲ Bitcoin (BTC), XRP, Solana (SOL), ETF, Cryptocurrency Whale/AI Generated Image

As the rise of Bitcoin (BTC) falters, whale funds are moving to XRP and Solana (SOL).

According to U.Today on September 1 (local time), market research firm Wintermute analyzed that the cryptocurrency market withstood hawkish remarks from the Federal Reserve (Fed) and adjustments in US tech stocks. Bitcoin, after surging 23%, only rose 0.10% over the week near the $82,000 resistance level. In contrast, the altcoin index rose 0.61%, outperforming Bitcoin and Ethereum (ETH).

Funds from major players concentrated on XRP and Solana. The Solana spot ETF saw an inflow of $154 million, and the XRP spot ETF saw an inflow of $110 million. Both are the largest amounts since 2026. Wintermute evaluated the relative strength of altcoins as a sign that fund movement is spreading across the overall market.

Institutional funds were also not excluded from Bitcoin and Ethereum. The Bitcoin spot ETF received $924 million over the week. However, the nine consecutive trading days of net inflows ended with $202 million exiting on Friday. The Ethereum spot ETF attracted $816 million over the week without a single day of net outflow. Wintermute emphasized that “two consecutive weeks of institutional fund inflows is the difference that distinguishes between a mere short squeeze and sustained demand.”

Strategy was also mentioned as a funding source supporting the market. The company raised an additional $2 billion and holds approximately $1.6 billion in net cash. Wintermute analyzed that large investors with low investment proportions are preparing to buy during price dips, thus supporting the market floor.

The next test will be the US employment figures to be announced on September 4. Wintermute believes that if Bitcoin maintains $75,000 and $72,000, the bullish trend can be sustained. Conversely, if the weekly closing price falls below $72,000, the positive scenario will be invalidated. Wintermute pointed out that below that price, there is “no clear bottom.”

[Article Key Summary]

-While Bitcoin took a breather after a 23% surge, Solana and XRP spot ETFs saw inflows of $154 million and $110 million, respectively.

-Institutional demand continued with Bitcoin spot ETF and Ethereum spot ETF also receiving $924 million and $816 million, respectively.

-Wintermute presented $72,000 for Bitcoin as the key price level to prevent the bullish trend from breaking down.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*