Published: 20.04.2022
Article reading time:
2 minutes.
Analyst firm CoinShares said in a weekly report that the April statement by the Open Market Committee (FOMC) pushed investors to “flight” from the crypto market.
Institutional investors withdrew $97 million from crypto funds last week, according to a CoinShares report. Analysts said the outflow is now in its second week and could be the result of recent profit taking and a reaction to the Open Market Committee (FOMC) announcement. which was published at the beginning of April.
The authors of the report noted that bitcoin is becoming increasingly “sensitive” to interest rates, like other stores of value. If last week the outflow of money from cryptocurrency funds was observed mainly in the markets of Europe, then last week investors massively withdrew capital from the US markets. Analysts believe that this may be a belated reaction to the statement of the FOMC – a structural division of the US Federal Reserve System (FRS).
CoinShares clarifies that investors have withdrawn $73 million from bitcoin funds, resulting in an outflow of $196 million since the beginning of the month. $27 million was withdrawn this week. The Solana and Cardano markets are seeing the same outflow of capital in the amount of 0.7 million.
The report says that the volume of funds invested in investment products based on a basket of cryptocurrencies increased over the past week by another $5.3 million. In 2022, they are in demand among investors.
Recently, the founder and CEO of the investment company Inviertis, Rebeca Pérez, said that due to the tense geopolitical situation, investors are increasingly buying property in Europe for cryptocurrencies. She believes that capital from crypto markets began to gradually flow into real estate.
Source: Bits
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