Crypto Assets Record Outflows For A Fourth Week On Regulatory Woes, Strong Dollar
Join Our Telegram channel to stay up to date on breaking news coverage The crypto industry was hit by out flows for a fourth consecutive week amid pessimism over regulatory woes and a strong dollar, CoinShares said. Out flows reached $59 million last week, bringing total out flows over the four-week period to $294 million, representing 0.9% of total assets under management, according to CoinShares’ latest Digital Asset Fund Flows Weekly Report. Crypto Outflows Show Negative Sentiment Among Institutions Bitcoin suffered the most out flows of $69 million last week. Investors anticipate BTC’s price to drop further as short-Bitcoin in flows hit $15 million. It was the largest single week of in flows since March 2023. In flows were reported in short investment products, indicating negative sentiment towards digital assets. Trading volumes also plunged by 73% compared to the previous week to $754 million. Ethereum’s outflows during the week totaled $4.8 mi...