Investors continue to withdraw funds from investment products associated with digital assets, significantly reducing their total value. Outflows have reached $4.75 billion over the past four weeks.
Bitcoin and Altcoins: Current Situation
Last week saw outflows of $876 million, with Bitcoin taking the largest hit at $756 million in withdrawals. This also affected funds targeting short positions against Bitcoin, with the highest outflows since December 2024. Meanwhile, altcoins such as Solana, XRP, and Sui managed to attract notable investments, indicating some investor confidence. Particularly significant outflows were observed in the U.S. with $922 million, while Switzerland, Canada, and Germany showed inflows.
Activity of Major Investors
Over the past six months, large investors, known as 'whales' and 'sharks,' have played a significant role in Bitcoin's price dynamics. From January to early March, they actively sold assets, contributing to Bitcoin's price decline. However, since March 3, they have started making purchases again, adding nearly 5,000 BTC to their assets, which may contribute to improved market sentiment.
Prospects for Bitcoin and Ethereum
According to Ryan Lee, Chief Analyst at Bitget Research, the coming weeks will be critical for Bitcoin. Its support level is stated to be between $70,000 and $75,000, with a resistance level of $85,000 to $87,000. If the asset's price falls below $77,000, a decline to $70,000–$72,000 is possible. Meanwhile, if it bounces from $75,000, a rise to $80,000–$85,000 is quite possible. Ethereum also demonstrates uncertainty, and its future dynamics will depend on ETF inflows and overall market trends.
Ongoing outflows from digital assets indicate significant investor uncertainty in the market. However, there are signs of a changing trend, which may affect the prospects for price growth in key cryptocurrencies like Bitcoin and Ethereum.
