Bittime - Digital asset investment product outflowscontinued for the third consecutive week, with the latest weekly outflow of $435 million being the highest since March. This condition provides an overview of the ongoing digital asset market movements.
Bitcoin and Ethereum: Digital Asset Outflow Leaders
The latest edition of CoinShares' report on digital asset fund flows shows that outflows focused on the top two cryptocurrencies, Bitcoin and Ethereum. Bitcoin saw outflows of $423 million, while Ethereum saw outflows of $38 million.
Over the same period, short Bitcoin investment products attracted $1.3 million in inflows. This shows there is increasing interest among market players to hedge or take advantage of Bitcoin's downward price movement.
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Altcoins Buck the Bearish Trend
Conversely, some altcoins are showing resilience to the widespread bearish trend. Investors preferred multi-coin investment products, which attracted $7 million in inflows.
Other popular choices, including Solana, Litecoin, and Chainlink, continued to receive inflows of $4 million, $3 million, and $2.8 million respectively. Additionally, Polkadot recorded inflows of $0.5 million, while related investment products XRP and ADA each saw inflows of $0.4 million during the week.
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Trend Negative in US, Positive in Switzerland and Brazil
Outflows were focused on the United States, with record outflows of $388 million. However, it is important to note that year-to-date fund inflows into the US still reached a record $13.6 billion. Most of the outflow came from Grayscale, reaching $440 million.
Meanwhile, Grayscale outflows are likely to slow, and there is a decline in inflows from new issuers, which reached just $126 million in the last week. Germany and Canada also experienced negative sentiment with outflows of $16 million and $32 million respectively.
Also read: How long does it take for Bitcoin to recover after the Bitcoin Halving?
However, this negative trend contrasted with Switzerland and Brazil, which received inflows of $5 million and $4 million respectively. Australia also recorded a small inflow of $0.5 million during the same period.
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The recent outflow of digital asset investment products indicates movement in the crypto market. Although Bitcoin and Ethereum led the outflow, several altcoins showed resilience and received inflows. This trend highlights the dynamic changes in the digital asset landscape that are underway.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Bitcoin Futures and Bitcoin Options: Bitcoin Financial Contracts, What's the Difference?
According to Bitwise CIO, the IMF is Starting to Pay Attention to Bitcoin
What is Bitcoin Unlimited (BTCU)? Bitcoin Derivatives Project
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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