Bitcoin leads the pack as crypto outflows mark 5 weeks
With the crypto market deprived of positive sentiments, outflows from crypto funds rallied to $500 million in the last nine weeks....
- Digital asset investment products saw outflows of $54 million last week, marking the fifth consecutive week of outflows.
- Bitcoin accounted for 85% of all funds withdrawn, with $45 million being removed from crypto funds.
- Liquidity worth $455 million has been removed from crypto exchange-traded products in eight out of the last nine weeks.
- Year-to-date net inflows fell below $100 million, indicating bearish sentiments towards crypto assets.
- Germany, Canada, and Sweden also experienced negative sentiment, while the USA accounted for 77% of all crypto fund outflows.
The sentiment towards digital asset investment products and Bitcoin is mostly negative, with consecutive weeks of outflows and decreasing net inflows. Regulatory uncertainty and bearish sentiments contribute to the negative sentiment.