Last week, the net outflow of digital asset investment products reached a new high of US $250 million
It is reported that according to the CoinShares report, the net outflow of digital asset investment products last week was 254.5 million US dollars, hitting a record high in a single week. Among them, the net outflow of Bitcoin investment products was $243.5 million, the net outflow of Ethereum investment products was $11 million, and the net outflow of investment products short of Bitcoin was $1.2 million.
Interpretation of this information:
The cryptocurrency market saw a major dip last week as digital asset investment products witnessed a net outflow of $254.5 million, which is the highest single-week record. The data is based on the CoinShares report which highlights the growing concerns of investors about the market volatility and regulatory measures.
Out of the total amount, Bitcoin investment products had a net outflow of $243.5 million, while Ethereum investment products had a lower but significant net outflow of $11 million. On the other hand, investment products short of Bitcoin experienced a net outflow of just $1.2 million.
The net outflow from Bitcoin investment products is noteworthy as it represents a shift in investor sentiment towards the world’s largest cryptocurrency. This may be due to the regulatory crackdown on digital assets by several countries or the rising concerns of Bitcoin’s carbon footprint. However, the market remains unpredictable, and many experts believe that the pullback can be a healthy correction for the market.
Additionally, the report highlights that the cumulative inflows for digital asset investment products across all providers have now reached $5.6 billion, which is lower than the previous week’s $6.3 billion.
In summary, the CoinShares report indicates that digital asset investment products witnessed a record net outflow of $254.5 million last week. Bitcoin investment products recorded a major net outflow of $243.5 million, while Ethereum investment products experienced a net outflow of $11 million. The rising concerns of regulatory measures, market volatility, and Bitcoin’s carbon footprint may have contributed to the shift in investor sentiment towards digital assets.
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