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Reading: $159 Million Outflow in Bitcoin! Investors Are Heading That Way!
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EdaFace Newsfeed > Latest News > Crypto News > $159 Million Outflow in Bitcoin! Investors Are Heading That Way!
Crypto News

$159 Million Outflow in Bitcoin! Investors Are Heading That Way!

vitalclick
Last updated: October 7, 2024 2:29 pm
6 months ago
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According to data from CoinShares, last week digital asset investment productsThere was a total outflow of 147 million dollars. Stronger-than-expected economic data in the USA reduced investors’ expectations for a major interest rate cut. This caused a weak sentiment in the markets. Especially Bitcoin $63,272 While focused outflows attracted attention, some investment instruments continued to resist this negative trend.

Big Breakout in Bitcoin, Record Entry in Multi-Asset ProductsCanada and Switzerland Optimistic, USA and Germany Pessimistic

Big Breakout in Bitcoin, Record Entry in Multi-Asset Products

Investors’ interest last week was largely BitcoinIt concentrated on and there was an outflow of 159 million dollars from Bitcoin. In contrast, there was an inflow of $2.8 million into short Bitcoin investment products that bet on the Bitcoin price to fall. Ethereum $2,468 also got its share of this negativity and saw an outflow of 29 million dollars. It has been observed that investors’ interest in Ethereum continues to remain low.

On the other hand multiple entity (multi-asset) investment products have become investors’ favorites by receiving entries for 16 consecutive weeks. Last week, there was an inflow of 29 million dollars into these products, and there has been a total inflow of 431 million dollars since June. These products are available in multiple ways to reduce investors’ risks. cryptocurrencyIt allows them to invest at the same time. In other words, it appeals to investors who prefer to create a basket and distribute the risk rather than focusing on a single asset.

Canada and Switzerland Optimistic, USA and Germany Pessimistic

When viewed on a regional basis Canada And Switzerland He painted an optimistic picture. There were inflows of $43 million in Canada and $35 million in Switzerland. However USA209 million dollars in Germany8.3 million dollars in and Hong KongThere was an outflow of 7.3 million dollars in . This situation shows that investors in some regions have lost their confidence in the cryptocurrency market.

Compared to last week, transaction volume in digital asset investment products increased by 15 percent to 10 billion dollars. However cryptocurrency marketTransaction volume in general remained at lower levels. This shows that investors are cautious and avoid large transactions in an environment of high uncertainty.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.

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