Institutional investors just sold $173 million worth of Bitcoin and crypto investment products in one week, according to a new update from CoinShares.
The digital asset firm says outflows have now totaled $3.74 billion over the past month as the price of BTC has fallen from around $95,400 to a low of $62,800.
Last week, Bitcoin saw outflows of $133 million. Ethereum followed with outflows of $85.1 million.
Some altcoins bucked the trend, with XRP attracting $33.4 million, Solana $31 million, and Chainlink $1.1 million.
Regionally, the United States leads with capital outflows of $403 million. This was offset by inflows of $230 million elsewhere, including $115 million in Germany, $46.3 million in Canada and $36.8 million in Switzerland.
Trading volumes for exchange-traded products fell to $27 billion from $63 billion the previous week.
On the bulls’ bright side, short Bitcoin products also saw two-week outflows of $15.4 million, which CoinShares says is a signal often seen near market lows.
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