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“15-Week Crypto Inflow Streak Ends with a $223M Shock Withdrawal”
The cryptocurrency market has experienced its first weekly outflows in over three months, according to the latest data released by CoinShares. The report shows that digital asset investment products recorded net outflows of $223 million, effectively ending a 15-week streak of positive inflows.
According to James Butterfill, Head of Research at CoinShares, the market began on a strong note with an impressive $883 million in inflows, but sentiment quickly turned negative following key US macroeconomic events. The sudden change led to over $1 billion in outflows being recorded on Friday alone.
It is noteworthy that Bitcoin, historically the most sensitive crypto asset to monetary policy changes, was severely impacted by last week’s negative flows. In fact, the asset witnessed a staggering $404 million exodus, marking one of the largest weekly pullbacks in recent months.
Despite this sudden setback, year-to-date inflows remain strong at $20 billion, indicating sustained long-term interest from institutional investors.
Interestingly, while Bitcoin was severely affected by the market’s shift in sentiment, other leading altcoins continued to attract capital. Ethereum, for instance, recorded an impressive $133 million in net inflows, its 15th consecutive week of positive investment flows, which is a testament to growing confidence in its long-term adoption prospects.
Other assets such as XRP, Solana, and SEI also posted positive inflows, suggesting that investor interest remains intact despite the recent market downturn.
Source: bitcoinist.com
