Unfortunately, it is too early to celebrate as open interest on the market suggests that the majority of investors are shorting Bitcoin, Ethereum and other cryptocurrencies. Rising exchange inflows are another confirmation of the trend as bears are ready to additionally fund their positions rather than closing them.
In order to do so, some investors need to deposit additional funds and cover existing losses to keep their positions afloat.Digital asset investment products saw a relatively low $9.2 million in inflows over the last week. But according to CoinShares data, most of those funds were directed toward short investment products.Short-Bitcoin investment products saw almost $20 million in inflows that brought the total AuM to a record-breaking $158 million.