King in all ramifications? Bitcoin bears an uneasy burden
According to the report, of the $32 million removed from the digital assets investments market last week, leading cryptocurrency BTC was the most affected, recording up to $25 million in outflows. This represented 78% of the total sums taken out. In the previous week, BTC saw outflows that totaled $10.9 million. The recent $25 million outflows brought the total outflows for the king coin on a month-to-date to $35.9 million.
Interestingly, the case was different for short-bitcoin investments. After logging a minor outflow of $3.5 million the week before, the asset class saw inflows totaling $3.7 million last week. CoinShares found: “Short-bitcoin investment products saw inflows of US$3.7m and has seen some of the largest inflows YTD of US$38m, second only to Bitcoin with US$158m.”Per CoinShares, investors’ sentiments were positive and negative for the altcoins. While some assets saw inflows, some registered outflows, the report stated.