Outflows Continue To Cause Concern For Investors For The Sixth Week Running Despite BTC's Spike.
01 Apr 2023, 08:00
Outflows Continue To Cause Concern For Investors For The Sixth Week Running Despite BTC’s Spike
Digital assets recorded sky-high outflows in spite of the meteoric rise in Bitcoin’s price.Investment funds were the hardest hit of the lot, with outflows nearly reaching $500 million during a six-week period.Ethereum appeared to record the lowest outflows as experts tried to make sense of the debacle.As Bitcoin’s (BTC) price marches toward the $30,000 mark, analysts are scratching their heads over a capital flight in the virtual asset industry.
A recent report from CoinShares revealed that the digital asset outflows in the last six weeks have been rising, settling at $424 million. During the last week, net outflows nearly exceeded the $100 million mark as the trend shows little to no signs of slowing down.