The outflows coincided with sizable declines in crypto prices last week, including bitcoin’s tumble from above $28,000 at its high on Wednesday to below $26,000 by late in the day on Friday.
“The outflows were broad from a regional perspective, suggesting negative sentiment is not concentrated on just a few investors,” CoinShares said. Of the $54 million in money exiting, bitcoin-related products accounted for $38 million, according to the report. Bitcoin outflows over the past four weeks have now reached $160 million, or 80% of the total for all crypto over that period.
While multi-asset investments as a whole saw $7 million in outflows last week, there were inflows across eight different altcoins including Cardano (
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BTCTN - 🏆 531. / 51 Read more »