cap rising by 2.79% over the past 24 hours and most coins gaining over 2%, concerns loomed as weekly charts reveal declines exceeded 5%.This reversal comes after net inflows of $543 million the previous week, impacting major asset managers like Ark Invest, Bitwise, BlackRock, Fidelity, Grayscale, ProShares, and 21Shares.“The negative sentiment was focussed on Bitcoin, seeing US$319m in outflows. Short bitcoin investment products saw a second consecutive week of inflows totalling US$4.4m.
Butterfill explained that the outflows were triggered by a pervasive negative sentiment across multiple regions and providers.
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Crypto SWOT: Bitcoin and the wider crypto market are nursing sharp losses for the monthThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
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