9/5/2023 0 Comments Coinshares inflows![]() The outflows from bitcoin funds for the week reached $112.8 million, marking slightly improved investor sentiment compared to the week before when $243.5 million left BTC-backed funds, according to new report from CoinShares. Meanwhile, the price of Bitcoin, the largest cryptocurrency by market capitalization, has risen from around $19,400 in early March to nearly $28,000, with an almost 15% increase in the last week alone.Īt the time of writing, Bitcoin (BTC) retails for $27,876.16, recording a 1.8% price decrease in the last 24 hours.Outflows from investment funds backed by Bitcoin (BTC) rose sharply last week, despite a massive increase in the spot price of the cryptocurrency. ![]() It may be driven, in part, by the need for liquidity during this banking crisis, a similar situation was seen when the panic first hit in March 2020. Regarding the matter, the firm stated: It is evident this sentiment is contrarian relative to the rest of the crypto market. Overall, CoinShares estimated that during the past six weeks, there was a total of $424 million in outflows.īitcoin (BTC), Ether (ETH), and multi-asset products saw combined outflows of $130 million, though Bitcoin also recorded $35 million in inflows.Īccording to CoinShares, the overall data may indicate a liquidity demand among investors. The outflows of over a quarter of a billion were recorded when major banks in the US, including Silicon Valley Bank, Signature Bank, and Silvergate Bank, were closing their doors.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |