Breaking News

web3bzz

Allow notifications🔔 to receive the latest news and updates.

Crypto Funds See $147M Outflow Amid Market Uncertainty

Outflows from cryptocurrency investment products totalled $147 million last week, breaking a three-week streak of inflows amid growing market concerns.

1 min 10 secOctober 7, 2024

Highlights:

•

Investors retreat as geopolitical tensions rise.

•

Bitcoin funds lead the decline with $159M in outflows.

Crypto Funds See $147M Outflow Amid Market Uncertainty

Outflows from cryptocurrency investment products reached $147 million last week, marking a notable shift after three consecutive weeks of inflows. This trend reflects a broader hesitance among investors, driven by negative geopolitical and macroeconomic factors that have prompted many to reassess their positions in the crypto market.

 

 

According to data from CoinShares, Bitcoin-based funds were the primary contributors to this decline, experiencing net outflows of $159 million. In contrast, short-bitcoin investment products saw modest inflows of $2.8 million, indicating a potential shift in investor strategy towards hedging against price declines.

 

The recent outflow comes amid a backdrop of uncertainty, as investors react to fluctuating economic indicators and geopolitical tensions. The overall sentiment in the market appears cautious, with many opting to take a break from crypto investments during this tumultuous period.

 

 

Despite the downturn, some segments within the crypto market continue to attract interest. Multi-asset products have shown resilience, bucking the trend of outflows and suggesting that there remains a segment of investors willing to diversify their portfolios.

 

As the market navigates these challenges, analysts will be closely monitoring future flows to gauge whether this trend is a temporary setback or indicative of a more prolonged period of withdrawal from cryptocurrency investments.

Subscribe To

Web3Buzz

Connecting you to the world of Web3

Related News

People also like to read

Latest News