For the third week in a row, digital asset investment products have seen investors pull out funds. This past week alone marked a historic $2.9 billion in outflows which pushed the cumulative figure to $3.8 billion over three weeks.<\/p>\n
CoinShares stated that this reversal is likely influenced by the recent security incident at Bybit, hawkish signals from the Federal Reserve, and a cooling-off after an extended 19-week inflow streak that brought in $29 billion. These circumstances likely fueled profit-taking and a dip in market optimism.<\/p>\n
According to the latest edition<\/a> of \u2018Digital Asset Fund Flows Weekly Report,\u2019 Bitcoin was hit hardest<\/a> by the negative sentiment as it suffered $2.59 billion in outflows last week, while short Bitcoin products attracted $2.3 million in inflows. Ethereum also faced heavy losses and hit a record $300 million in outflows.<\/p>\n Toncoin wasn\u2019t spared, with investors pulling $22.6 million. Meanwhile, multi-asset products experienced $7.9 million in outflows, while Solana and Cardano saw $7.4 million and $1.2 million outflows, respectively. Even blockchain equities saw declines, losing $25.3 million.<\/p>\n On the other hand, Sui outshined the market with $15.5 million in inflows, followed by XRP, which gained $5 million, and Litecoin, which added a modest $1 million in inflows.<\/p>\n Outflows were widespread over the past week, with the US leading at $2.87 billion, followed by Switzerland\u2019s $73 million and Canada\u2019s $16.9 million. Sweden also recorded $14.5 million in outflows, while Brazil and Hong Kong saw $2.6 million and $2.5 million, respectively.<\/p>\n In contrast, Germany bucked the trend with $55.3 million in inflows, as investors bought the dip. Australia also recorded modest inflows of $1 million.<\/p>\n The post $3.8 Billion in Bitcoin and Ethereum Outflows, What Does it Mean?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" For the third week in a row, digital asset investment products have seen investors pull out funds. This past week alone marked a historic $2.9 billion in outflows which pushed the cumulative figure to $3.8 billion over three weeks. CoinShares stated that this reversal is likely influenced by the recent security incident at Bybit, hawkish […]<\/p>\n","protected":false},"author":0,"featured_media":50954,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-50953","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/50953"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=50953"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/50953\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/50954"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}