After the release of the U.S. CPI data, Bitcoin ETFs experienced $233 million in outflows, while Solana and XRP gained market favor. Despite a shift in investor sentiment, Bitcoin’s price remained at $81,000.
Investor sentiment remains mixed, with the Fear & Greed Index hovering around the neutral zone of 50. Meanwhile, funds have begun gradually flowing into Solana and XRP.
ETF investors lock in profits after a strong rebound
Data from FarSide Investors shows that on May 12, there was significant outflow from Bitcoin ETF products, primarily from BlackRock’s IBIT, Fidelity’s FBTC, and ARKB.
The total net outflow reached approximately $233 million. This trend was driven by market reactions to higher-than-expected U.S. CPI data, sparking concerns that the Federal Reserve may keep interest rates elevated for longer.
Ethereum ETFs also faced selling pressure, losing approximately $1.3 billion, with BlackRock’s ETHA experiencing the largest redemptions.
Despite these headwinds, Bitcoin rebounded quickly. As of press time, it is trading at approximately $81,000, with analysts suggesting this level indicates strong institutional demand even amid price declines.
Solana and XRP become the new favorites
Despite temporary outflows from Bitcoin and Ethereum, investor interest in Solana and XRP continues to rise.
On May 12, Solana ETF products saw net inflows of nearly $19 million, led by Bitwise BSOL.
The XRP funds also maintained a positive growth momentum, attracting approximately $5.3 million in new funds. The Bitwise XRP ETF and the 21Shares XRP ETF were the primary beneficiaries of this trend.
These data reinforce the view that the market is shifting from Bitcoin toward higher-risk assets. However, the Altcoin Season Index remains below 50 points, indicating that a true altcoin season has not yet arrived.
Artificial intelligence and layer-2 networks are leading the trend
Investors are increasingly seeking to invest in projects involving artificial intelligence infrastructure, layer-2 networks, and blockchain-based payments.
Solana remains one of the primary beneficiaries of this trend, thanks to its low transaction fees and growing activity in DeFi and payment applications.
XRP is growing in popularity amid speculation about its potential for broader institutional adoption and the possible expansion of dedicated ETF products.
The market remains sensitive to macroeconomic data.
Despite the cryptocurrency market demonstrating resilience, traders remain cautious after U.S. inflation accelerated to 3.8%. Elevated energy costs and rising consumer prices have tempered some risk appetite, yet the digital asset market has performed significantly more robustly than in previous inflation cycles.
For investors, the key question is whether Bitcoin can maintain above $80,000 as funds flow into Solana, XRP, and the broader altcoin sector.
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