Withdrawal of funds from bearish Bitcoin funds

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From September 17 to September 23, $5.1 million was withdrawn from the structures that allow opening shorts on the first cryptocurrency. Before that, an influx was recorded for seven weeks in a row, as a result of their AUM reached a record $172 million, analysts write CoinShares.

Receipts of funds in cryptocurrency investment products in general for the reporting period amounted to $8.3 million compared to $7.3 million a week earlier.

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Traditional bitcoin funds saw an inflow of $2.6 million ($17 million a week ago).

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The outflow from Ethereum funds over the previous four weeks in a row was replaced by an inflow of $6.9 million. Among the products based on other altcoins, those based on XRP ($0.5 million) stood out.

Crypto Basket Funds Raise $1.8M

In August, former hedge fund manager Cramer & Co. and CNBC Mad Money host Jim Cramer said monetary tightening Fed will lead to the “washout” of speculative assets like cryptocurrencies.

Philosopher and author of the cult work “The Black Swan” Nassim Taleb called bitcoin a “tumor”, which led to the emergence of flexible monetary policy of the Fed.

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Source: Cryptocurrency

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