The outflow of funds from cryptocurrency investment products from April 29 to May 5 amounted to $53.8 million compared to $72.1 million a week earlier. Analysts gave this assessment CoinShares.
Over the past four weeks, the outflow has reached $200 million, which is equivalent to 0.6% AUM.
The volume of funds in crypto funds fell by 13% from the peak reached in mid-April.
The outflow of funds from bitcoin products amounted to $37.5 million ($46 million a week ago, a total of $160 million in four weeks).
From the structures that allow opening shorts on the first cryptocurrency, investors withdrew $10.4 million against $7.8 million in the previous reporting period.
Ethereum funds recorded an inflow of $0.1 million. A week earlier, there was a maximum outflow of $19 million since The Merge in September 2022.
In other altcoins, positive dynamics prevailed. Products based on Cardano, Tron and Sandbox raised $0.5 million, $0.23 million and $0.2 million respectively, while BNB-based products recorded an outflow of $0.5 million. Altcoins withdrew $6.7 million from basket-based funds.
Earlier, the co-founder of Glassnode, under the nickname Negentropic, predicted a continuation of the growth of bitcoin to $35,000 during the summer.
Source: Cryptocurrency
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