Despite bitcoin’s price surging, digital asset investment products totaled net outflows for a sixth consecutive week last week, a report by CoinShares shows.Outflows in digital asset investment products for the last six weeks totaled $424 million, the digital asset investment group found.
Overall, the data may reflect a need for liquidity among investors, according to CoinShares. Meanwhile, the largest cryptocurrency by market value’s price has surged from a low of about $19,400 in early March to its current level near $28,000. Over the past week, bitcoin has risen almost 15%.
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