Can Bitcoin Above $66,000 Reverse $206 Million in Outflows?
Journalist
- Last week, digital asset investment products saw a $206 million decrease in outflows.
- Bitcoin was the leading outflow at $192 million amid Fed interest rate concerns.
Last week, outflows from digital asset investment products doubled, the second consecutive negative trend. CoinShares reported that outflows from digital asset investment products more than doubled last week, capping a two-week bear market. ReportageOutflows totaled $206 million.
Bitcoin [BTC] The largest outflows were $192 million from Ethereum [ETH] at $32 million.
Bitcoin is the leading cryptocurrency in terms of outflows
Last week’s outflows ($220 million) were double the previous week’s (106 million), highlighting investors’ risk-averse approach.
US ETFs (exchange-traded funds) accounted for $244 million in outflows.
Additionally, demand for spot BTC ETFs has waned as inflows remained low compared to previous weeks.
AskFXs spot check on Farside Investors Below are some of the most effective ways to increase your ROI: This has been confirmed. US spot BTC exchange-traded funds (ETFs) saw $264 million in outflows between April 15 and 18.
The report attributed the decline in overall Bitcoin volumes to interest rate fears.
The report is divided into two parts:
The data shows that ETP/ETF investor interest continues to decline, likely due to expectations that the FED is likely to keep rates high for longer than expected.
The report found that despite interest rate concerns, some investors took the opportunity to short Bitcoin. Outflows from short Bitcoin products were only $0.3 million.
On the altcoin side, ETH’s $32 million in outflows marked its sixth consecutive week, highlighting ETH’s rocky start to Q2. Solana [SOL] You can also learn more about: Bitcoin Cash [BCH] Each of these two groups had outflows of $0.3 million.
However, Chainlink [LINK] You can also learn more about: Litecoin [LTC] Inflows were significant, suggesting that the funds were investors’ favorites During the same period
US spot BTC exchange-traded funds (ETFs) saw net inflows between April 19 and 20, while BTC rallied over $66,000.
It will be interesting to see if investors will start taking more risk and strengthen inflows into digital asset investment products.
