Crypto investment products have seen outflows for the ninth consecutive week, according to a report from digital asset management firm CoinShares. This report brings to light the current sentiment of investors in the cryptocurrency market along with the crypto outflow details.
Key Crypto Outflow Details
The outflows during the past week totaled $79 million, marking a noticeable increase from the previous week. This figure represents the largest weekly outflow since mid-April and signals a growing trend of capital leaving the crypto investment product market.
Bitcoin – The Major Sufferer
Bitcoin, in particular, has borne the brunt of these outflows. With a total outflow of $89 million last week, Bitcoin has now seen 9 straight weeks of outflows. In fact, over the last three weeks, outflows have significantly increased, which could be a sign of investor caution given Bitcoin’s recent market volatility.
Ethereum – A Different Story
Unlike Bitcoin, Ethereum’s investment products have shown a different trend. There were $14 million worth of inflows into Ethereum investment products in the past week. This hints at investors shifting their focus towards this cryptocurrency, despite the general market trend.
Crypto Outflows: Overall Crypto Assets Market Trend
Overall, the total assets under management (AUM) in crypto investment products slipped to $47.9 billion, down from its peak of $65.3 billion in mid-April. This illustrates the overall trend of capital moving out of the crypto assets market, possibly due to heightened market uncertainty and volatility.
Crypto Market Sentiment
Market sentiment seems to be turning cautious, with a significant number of investors moving away from crypto investment products. Despite the inflows into Ethereum, the wider picture demonstrates a trend of outflows from the crypto market. The changing market sentiment and conditions continue to test the resilience of the crypto market, underlining the importance of due diligence and strategic decision-making for investors.
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Source: https://cryptoticker.io/en/are-investors-still-selling-cryptos-crypto-might-face-further-declines/