XRP surges! $6 million funds rebound, Bitcoin ETF skyrockets, market is severely polarized!

After experiencing a $1 billion outflow in the previous two weeks, the cryptocurrency ETP market has shown a turnaround, successfully reclaiming $6 million in inflow. Among them, XRP led the charge, attracting $37.7 million, while Ethereum faced an outflow of $26.7 million, which is surprising.

From April 14 to 18, despite the overall market being chaotic, XRP's strong rebound demonstrated the market's interest in undervalued assets. In contrast, Ethereum and Bitcoin failed to maintain their advantages, especially with Ethereum's outflow showing a significant reversal.

CoinShares data shows that the total value of cryptocurrency assets under management increased by 1.4%, rising from $129 billion on April 11 to $131 billion. However, with economic data fluctuating, the outflows still severely impacted market sentiment.

In the ETF issuance sector, BlackRock's iShares ETF performed remarkably, recording an inflow of $182 million, becoming a major highlight of the market. Meanwhile, Fidelity Investments faced a loss of $123 million, exposing the instability of the cryptocurrency market.

The Bitcoin ETF also welcomed inflows, especially driven by institutional funds, achieving the best single-day performance in nearly three months. ARKB and FBTC respectively received inflows of $116 million and $87.61 million, pushing the Bitcoin price close to the $90,000 mark. After breaking this level, Bitcoin may aim for higher target prices.

This polarization in the cryptocurrency market indicates that investors are reallocating assets based on risk preferences, with XRP, Bitcoin, and gold likely becoming the main beneficiaries of safe-haven assets.