Crypto funds extend exodus with another $1.7 billion in weekly outflows as ‘investor sentiment deteriorates’: CoinShares
Crypto funds saw $1.7 billion in net outflows last week, marking the second consecutive week of accelerated withdrawals amid deteriorating investor sentiment.Summary
Global crypto investment products experienced a second straight week of accelerating outflows, totaling $1.7 billion in net redemptions, according to CoinShares' latest report. This brings year-to-date flows to a net global outflow of $1 billion. James Butterfill, head of research at CoinShares, attributed this negative sentiment to macro pressures, including a hawkish U.S. Federal Reserve, continued whale selling linked to the four-year cycle, and geopolitical uncertainty. Outflows were heavily concentrated in the United States ($1.65 billion), with Bitcoin funds bearing the brunt of redemptions ($1.32 billion). Conversely, short bitcoin products attracted $14.5 million in inflows as investors positioned defensively against falling prices, which saw Bitcoin drop roughly 12% and Ether 22% over the past week.
(Source：The Block)