XRP Comes Third on Massive Crypto Outflow Map After Bitcoin: Details

A recent report published by the CoinShares asset management fund reveals that over the past week, crypto has absorbed a harsh blow, with nearly $2 billion in investments.

Bitcoin, including spot BTC ETFs, was the leading loser last week, according to the report, as it lost $1.089 billion. XRP came in third on the list of the cryptos that faced the hardest blow. However, the document.

Close to $2 billion withdrawn from crypto in one week

CoinShares reported that last week, crypto asset investment products registered the largest outflow since mid-November last year. In total, the withdrawals came to approximately $1.73 billion. Bitcoin outflows were the largest, of course, at $1.09 billion. That was a single-day outflow.

Ethereum came second on this list, with $630 million outflows. It was followed by XRP. Investment products based on this cryptocurrency lost $18.2 million. In total, the outflows constituted $1.732 billion.

However, unlike BTC, ETH or XRP, Solana welcomed inflows of around $17.1 million. Litecoin and Chainlink absorbed $0.5 million and $3.8 million, respectively.

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Peter Brandt spots another sell signal for Bitcoin

Skilled commodity trader Peter Brandt has spotted another sell signal on a Bitcoin chart. He pointed out that it emerged as a bear channel completed. Brandt believes that the BTC price has to get back above the $93,000 level in order to negate the losses it has faced so far.

Bitcoin lost almost 5.3% since Friday, falling from $91,150 to the $86,400 zone. Since Monday, Jan. 19, the decline has comprised approximately 7.37% as BTC declined from $93,265.

By now, the leading cryptocurrency has recovered a little and is trading at $87,736 per coin.

Bitcoin Omegacycle coming: Samson Mow

Bitcoin bull and JAN3 CEO Samson Mow, took to X yesterday to share his thoughts on the direction he expects Bitcoin to take in the near future. Mow stated that last year, “two popular myths were shattered.”

The first myth was about Bitcoin’s four-year cycle. Samson referred to it as an illusion, saying that “An Omegacycle is in the cards.” The second myth dispelled by Mow was that “Bitcoin is too big to see a 10x” price surge.

What is necessary to do now, he said, is “just wait patiently.”