Bank

Million

Standard

Recently, crypto investment products witnessed a significant outflow of $206 million, with Bitcoin (BTC) taking the lead in losses by accounting for up to $192 million in weekly outflows. According to the CoinShares <a href="https://blog.coinshares.com/volume-179-digital-asset-fund-flows-weekly-report-84f3312ba409?gi=d4db2a48f2b4" rel="noopener noreferrer nofollow">report</a>, the trading volume of exchange-traded products (ETPs) reduced slightly to $18 billion.
<h2 id="b-bitcoin-leads-with-192-million-weekly-outflows-b">Bitcoin Leads With $192 Million Weekly Outflows</h2>
While Bitcoin remains the dominant force in the crypto space, its recent outflows underscore the challenges faced amidst regulatory scrutiny and market turbulence. Despite its recent outflows, there was little or no interest in short-selling as short-bitcoin funds witnessed outflows of $0.3 million.
The outflows from Bitcoin investment products raise questions about the factors driving investor sentiment. Possible reasons for the outflows include profit-taking strategies, concerns about regulatory crackdowns, and apprehension over market stability. However, it’s essential to recognize that fluctuations in investment flows are a common feature of the dynamic crypto landscape.
Alongside Bitcoin, other cryptocurrencies also experienced outflows, albeit to a lesser extent. Ethereum, the second-largest cryptocurrency by market capitalization, witnessed outflows amounting to $34.2 million as investors diversified their portfolios amid market uncertainty.
<h2 id="b-bitcoin-exchange-supply-on-the-decline-b">Bitcoin Exchange Supply on the Decline</h2>
The cryptocurrency market experienced a seismic shift as <a href="https://thecoinrise.com/bitcoin-exchange-supply-slumps-with-coinbases-58000-btc-outflow/" rel="noopener noreferrer nofollow">Bitcoin exchange supply plummeted to an all-time low</a>, with about 58,000 BTC withdrawn from Coinbase, one of the leading cryptocurrency exchanges.
According to Coinglass, BTC held by crypto exchange dropped to $1.79 billion on March 23, marking its lowest in about four years. However, this development injected optimism into the cryptosphere as investors maintained their bullish stance. Additionally, the movement of assets off exchanges indicates investors’ holding strategy which has become a trend since the rise of spot Bitcoin Exchange-Traded Funds (ETFs).
<h2 id="b-bitcoin-s-trajectory-in-2025-b">Bitcoin’s Trajectory in 2025</h2>
Recall that, <a href="https://thecoinrise.com/bitcoin-price-standard-chartered-sets-year-end-target-at-150k/" rel="noopener noreferrer nofollow">Standard Chartered Bank revised its Bitcoin prediction target</a>, raising it to $150,000 by the end of the year, up from its <a href="https://thecoinrise.com/standard-chartered-predicts-bitcoin-at-120k-by-2024-end/" rel="noopener noreferrer nofollow">previous estimate between $100,000 and $120,000</a>. The analysts clarified that for BTC to reach the 20% allocation suggested by portfolio optimization, its price would have to increase to $190,000, assuming the gold price remains constant.
The current price of Bitcoin is hovering around the $66,227.35 <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">mark</a>. Yet, the bank anticipates Bitcoin could exceed this goal if spot BTC ETF inflows meet their estimated midpoint of $75 billion or if foreign exchange reserve managers start acquiring Bitcoin. Under these circumstances, analysts envision Bitcoin’s price could hit $250,000 sometime in 2025.
The post <a href="https://thecoinrise.com/crypto-investment-products-witness-206m-in-weekly-outflows/" rel="noopener noreferrer nofollow">Crypto Investment Products Witness $206M in Weekly Outflows</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Crypto Investment Products Witness $206M in Weekly Outflows

Table of Contents

TheCoinrise Media

Другие статьи, опубликованные 22 апр. 2024 г.

Locked Solana Tokens from FTX to Be Sold Through Auction

Crypto Firm Big Brain Holdings Clarifies Non-Involvement with ZKasino Amid Controversy

Crypto Betting Platform ZKasino.io Accused of Rugpull, Millions in ETH Withdrawn

Crypto users fooled by fake Elizabeth Warren letter proposing crypto tax

Analyst Predicts Strong Uptrend for Ethereum and Other Altcoins

Binance optimizes crypto transactions and adjusts step sizes!

Join our free newsletter for daily crypto updates!