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Bitcoin Leads Weekly Crypto Outflows Amid Tariff Tensions—Here’s What the Data Shows
The global crypto market capitalization has plummeted by 9.6% over the past week, according to data provided by TradingView.com. This significant decline has led to an overall outflow of funds from digital assets, with Bitcoin (BTC) being the primary contributor.
As reported by CoinShares, the cryptocurrency fund experienced outflows for the second consecutive week, totaling $210 million in withdrawals from US investors and $17.7 million from German investors. Meanwhile, Canadian investors demonstrated a contrasting approach, injecting $4.8 million into the market during this period.
Interestingly, blockchain-focused equities saw renewed interest, with an influx of capital amounting to $8 million for the second consecutive week. This trend may be attributed to astute investors recognizing undervalued opportunities in the market, driven by their desire to diversify their portfolios within the digital asset space.
Despite these outflows, CoinShares’ Head of Research, James Butterfill, highlighted the resilience of digital assets, emphasizing that total assets under management (AUM) remained relatively stable at $132.6 billion, demonstrating an increase of 0.8% from the previous week.
Contrastingly, traditional financial markets witnessed a significant decline, with MSCI World equities experiencing a dismal 8.5% downturn over the same period. This stark contrast between digital assets and traditional markets underscores the robustness of cryptocurrency amid economic uncertainty.
It is worth noting that the cryptocurrency market’s ability to weather economic turbulence has been consistently demonstrated throughout the years.
Source: https://bitcoinist.com/bitcoin-leads-crypto-outflows-amid-tariff-tensions/
