Summary:
The latest CoinShares report shows that there have been outflows of $107 million from digital asset investment products this week, indicating a lackluster trading period. Weekly trading volumes for these products are 36% below the year-to-date average. Bitcoin has experienced the largest outflows since March, with institutional investors pulling out $111 million due to regulatory tensions in the US. However, the report also reveals that institutional investors have stopped betting against crypto as outflows into short bitcoin have stopped for the first time in 14 weeks. Altcoins have seen improved sentiment, with Solana experiencing significant inflows of $9.5 million. XRP and Litecoin also had inflows, while Uniswap and Cardano encountered outflows.
Main Breakdown:
– Digital asset investment products recorded outflows of $107 million this week.
– Bitcoin witnessed the largest weekly outflows since March, with institutional investors pulling out $111 million.
– Outflows into short bitcoin have stopped for the first time in 14 weeks.
– Altcoins have seen improved sentiment, with Solana experiencing significant inflows of $9.5 million.
– XRP and Litecoin had inflows, while Uniswap and Cardano encountered outflows.
Hot Take:
The summer period has seen lackluster trading activity in the crypto market, resulting in outflows from digital asset investment products. However, there are signs of improved sentiment towards altcoins, with some experiencing significant inflows. Bitcoin has faced regulatory tensions, leading to the largest outflows since March. Overall, the market is showing mixed trends, with investors adjusting their strategies amid the summer doldrums.
By
By
By
By
By