Reserve

Bitcoin

Million

Institutional investors have demonstrated reluctance towards crypto-assets, with a $110 million net Bitcoin outflow, which is indicated in the latest CoinShares <a href="https://blog.coinshares.com/volume-178-digital-asset-fund-flows-weekly-report-02e978e7d82e" target="_blank" rel="noreferrer noopener" data-wpel-link="external">report</a>. According to the report, the decline in the number of investment tools related to crypto has also resulted in the volume of tokens in the field decreasing to $126 million in the past week. 
Despite the overall market size remaining the same, the interests of investors have changed which is reflected in the ETP/ETF activity. ETP/ETF activity has decreased from 40% to 31% of the total volumes on trusted exchanges. Notably, to the tune of $520 million, investors bought into crypto funds during the one month before a recent dip. More than 99% of that sum goes into Bitcoin. 
The weekly trade volume for investment products is now estimated to be $21 billion. The recent drop in Bitcoin’s value was mainly due to sellers reacting to uncertainty in the ETF market, geopolitical tensions, and decisions regarding Federal Reserve interest rates. 
Although BTC price has been highly volatile, falling below $65,000 with spot Bitcoin ETFs <a href="https://www.cryptotimes.io/2024/04/15/hong-kong-sfc-approves-spot-bitcoin-and-ethereum-etfs/" target="_blank" rel="noreferrer noopener" data-wpel-link="internal">launched in Hong Kong,</a> spot Bitcoin ETFs in Hong Kong have been approved. As predicted, 30-day funding rates are high. In addition to that, all-time high levels of resistance have also been noted. At present, it appears that prices will be going down soon. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read:<a href="https://www.cryptotimes.io/2024/04/16/bitcoin-consumes-bid-liquidity-in-65k-battle/" target="_blank" rel="noreferrer noopener" data-wpel-link="internal"> Bitcoin Consumes Bid Liquidity in $65K Battle</a> 
</blockquote>

Institutional Investor React to $110 Million Bitcoin Outflow

The Crypto Times

Alte articole publicate pe 15 apr. 2024

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