Why BTC outflows persist despite renewed hopes for crypto comeback

BTC’s outflows continue to grow despite renewed hope in the crypto ecosystem. As Shanghai Upgrade draws nearer, investors shy away from Ether products. According to a new report by CoinShares digital asset investment products recorded six consecutive weeks of outflows totaling $95 million. Over the last five weeks, there has been $406 million in outflows […]

The digital asset investment firm CoinShares found that the $406 million outflows registered in the past five weeks represented 1.2% of total assets under management . Despite the outflows in the last week, AuM rose by 26% to reach $33 billion. This is the highest AuM since the collapse of Three Arrows Capital in June 2022.

The high trading volumes recorded last week indicated that there was still significant activity in the market, which could signal increased confidence among investors.Despite the positive crypto market sentiment last week, BTC saw outflows from investment products totaling $113 million. According to CoinShares, the negative sentiment towards the king coin was in “stark contrast to the broader crypto market,” which performed relatively well during the same period.

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