Last week, digital asset investment products outflow of $2 million, and BTC outflow of $12 million

According to the report, data from CoinShares showed that there was a small outflow of US $2 million in digital asset investment products last week. Among them, Bitcoin outflow totaled $12 million for the third consecutive week, while short Bitcoin inflow totaled $10 million. Ethereum was relatively unaffected by the recent negative sentiment, with only $200000 outflow last week. Polygon, Solana and Cardano had a small amount of capital inflows, totaling US $600000, US $500000 and US $400000 respectively.

Interpretation of this information:

The recent report from CoinShares suggests that the digital asset investment products experienced a small outflow of $2 million last week. While this appears to be a small amount, it is a significant shift given the ongoing volatility within the market. In particular, Bitcoin continues to see outflows, with $12 million leaving the market for the third week in a row. However, there was a short Bitcoin inflow of $10 million noted during the same period.

Interestingly, Ethereum has remained relatively unscathed by the negative sentiment surrounding the market. It only experienced an outflow of $200000 last week. Conversely, Polygon, Solana, and Cardano saw marginal capital inflows, totalling $600000, $500000, and $400000, respectively.

This report indicates that investors continue to adopt a cautious approach when it comes to cryptocurrencies, especially Bitcoin, which is continuing to see significant outflows. However, the fact that other digital currencies such as Ethereum, Polygon, Solana, and Cardano are experiencing inflows suggest that investors are looking beyond the Big Daddy of cryptocurrencies and are showing more confidence in these alternative coins.