news Bitcoin ETPs Drive $756M in Outflows as Market Sentiment Stays Bearish
The cryptocurrency market has taken a bearish turn, with Bitcoin exchange-traded products (ETPs) experiencing a massive outflow of $756 million last week. This development marks the fourth consecutive week of declines for crypto ETPs.
According to recent data from CoinShares, the total outflows in the past four weeks have now reached an astonishing $4.75 billion. The overall assets under management (AUM) in crypto ETPs have also dropped significantly, dipping by a staggering $39 billion to reach a low point of $142 billion since mid-November 2024.
The negative sentiment surrounding cryptocurrencies is expected to continue as investors become increasingly cautious about their investments. A decline in the popularity and value of digital currencies has been observed for several weeks now, leading to widespread losses across the board.
A notable exception to this trend was seen in Solana, XRP, and Sui, which recorded inflows of $16.4 million, $5.6 million, and $2.7 million respectively.
Source: https://cryptonewsland.com/bitcoin-etps-drive-756m-in-outflows-as-market-sentiment-stays-bearish/