Digital asset investment products recorded outflows totaling $600 million last week, digital asset investment firm CoinShares found in its newAccording to the report, last week’s figures represented the largest weekly outflows from cryptocurrency funds since 22nd March.This was due to “a more hawkish-than-expected FOMC meeting, prompting investors to scale back their exposure to fixed-supply assets,” CoinShares noted.
“Trading volumes remain lower at US$11bn for the week, compared to US$22bn weekly average this year, but well above the US$2bn a week last year.” At $16.1 billion at the end of the period under review, BTC’s YTD flows had dropped by 4% from the previous week.“The bearishness also prompted US$1.8m inflows into short-bitcoin.”
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