Bitcoin Investment Products Saw Record Outflows Last Week
- The world’s largest cryptocurrency is down by more than 10% in the last 24 hours.
Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term dropped below $33,000 on Tuesday after losing more than 10% of its value in a single day. The recent negative sentiment across the crypto market is causing a sharp drop in weekly inflows related to Bitcoin investment products.
According to the latest digital asset fund flows report published by CoinShares, BTC investment products saw outflows worth $141 million last week, the largest weekly outflows on record. Overall, crypto investment products saw outflows worth $94 million last week.
Ethereum, the world’s second-largest digital currency, saw a positive trend despite the latest negative sentiment in Bitcoin. ETH-related investment products attracted $33 million in the last week. Ethereum remained the most popular altcoin for institutional investors.
“Despite the net outflows, we believe it implies an early turn in sentiment since May, where most product providers were seeing net outflows and sentiment was broadly negative. The negative sentiment was again focused on Bitcoin which saw outflows totaling US$141m, marking the largest single week of outflows on record. The outflows represent 8.3% of the net inflows seen this year and remain minimal in relative terms to the outflows seen in early 2018,” CoinShares mentioned in the report.
Bitcoin and Cryptocurrency Market
Bitcoin has seen immense Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term in the last 4 weeks. The price of the world’s largest digital currency is down by more than 40% since 10 May. BTC is currently hovering at around $32,800 with a market cap of more than $600 billion. Overall, the market cap of digital currencies stands at around $1.5 trillion. CoinShares mentioned that the recent outflows were mainly related to Bitcoin investment products but other cryptocurrencies including XRP, Cardano and Polkadot have seen consistent inflows in the last few weeks. “XRP saw inflows totaling US$7m, the largest since April, while both Cardano and multi-asset products saw inflows of US$4.5m and US$2.7m, respectively. Digital asset investment product trading volumes highlight investors remain cautious in Bitcoin with weekly volumes having fallen 62%,” the report added.
Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term dropped below $33,000 on Tuesday after losing more than 10% of its value in a single day. The recent negative sentiment across the crypto market is causing a sharp drop in weekly inflows related to Bitcoin investment products.
According to the latest digital asset fund flows report published by CoinShares, BTC investment products saw outflows worth $141 million last week, the largest weekly outflows on record. Overall, crypto investment products saw outflows worth $94 million last week.
Ethereum, the world’s second-largest digital currency, saw a positive trend despite the latest negative sentiment in Bitcoin. ETH-related investment products attracted $33 million in the last week. Ethereum remained the most popular altcoin for institutional investors.
“Despite the net outflows, we believe it implies an early turn in sentiment since May, where most product providers were seeing net outflows and sentiment was broadly negative. The negative sentiment was again focused on Bitcoin which saw outflows totaling US$141m, marking the largest single week of outflows on record. The outflows represent 8.3% of the net inflows seen this year and remain minimal in relative terms to the outflows seen in early 2018,” CoinShares mentioned in the report.
Bitcoin and Cryptocurrency Market
Bitcoin has seen immense Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term in the last 4 weeks. The price of the world’s largest digital currency is down by more than 40% since 10 May. BTC is currently hovering at around $32,800 with a market cap of more than $600 billion. Overall, the market cap of digital currencies stands at around $1.5 trillion. CoinShares mentioned that the recent outflows were mainly related to Bitcoin investment products but other cryptocurrencies including XRP, Cardano and Polkadot have seen consistent inflows in the last few weeks. “XRP saw inflows totaling US$7m, the largest since April, while both Cardano and multi-asset products saw inflows of US$4.5m and US$2.7m, respectively. Digital asset investment product trading volumes highlight investors remain cautious in Bitcoin with weekly volumes having fallen 62%,” the report added.