Bitcoin’s price may be surging, but that doesn’t mean everyone’s convinced the rally will continue.
Coinshares’s digital asset investment products saw outflows for the sixth consecutive week that totaled $95 million. That figure reached $406 million over the past five weeks, representing 1.2% of total assets under management.
That’s despite the cryptocurrency soaring to above $28,000 for the first time since June on Sunday, getting close to doubling its value from the start of the year.
Bitcoin saw outflows in investment products totaling $113 million last week. Coinshares said the flows were, in part, due to the need for liquidity rather than negative sentiment.
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Source: https://www.theblock.co/post/221180/bitcoin-outflows-jump-at-coinshares-despite-rally?utm_source=rss&utm_medium=rss