The fifth consecutive week of capital outflows from cryptocurrency investment products resulted in a $1.7 billion loss. Coinshares released its weekly cryptocurrency report, indicating that the total outflow reached $6.4 billion over recent weeks.
Coinshares Report: Key Insights
Coinshares reported an outflow of $1.7 billion from cryptocurrency investment products in the last week. These figures highlight the negative market trend, with total outflows reaching $6.4 billion over the past five weeks.
Bitcoin and Ethereum: Major Losses
When looking at individual crypto funds, the majority of outflows were seen in Bitcoin. Bitcoin saw an outflow of $978 million, while Ethereum saw an outflow of $176 million. Contrarily, XRP saw an inflow of $1.8 million.
Regional Outflow Trends
When examining regional fund inflows and outflows, the USA ranked first with an outflow of $1.16 billion. Switzerland came in second after the USA with an outflow of $527.7 million. In contrast, Germany and Brazil experienced smaller inflows of $8 million and $4.2 million, respectively.
The fifth week of outflows highlights shifting investment sentiments in the cryptocurrency market. Despite the overall negative trend, certain assets like XRP continue to attract investments.
