The latest Coinshares Weekly a report It revealed a noticeable shift in the Crypto Asset Investment products last week, with the first main output flows after a long series of flows for 19 weeks. Coinshares has been in particular detailing $ 415 million in external flows, which represents a sharp reflection of fixed gains in previous weeks.
According to James Bouteville, head of research research at Coinshares, this new trend comes in the wake of many major economic events in the United States, including Falcons Comments from the President of the US Federal Reserve Jerome Powell and the upper inflation data, which may have affected feelings Investor.
Butterfill Books in particular:
We believe that these external flows have arisen through the Congress meeting with the President of the Federal Reserve, Jerome Powell, who referred to a more honest financial political position, along with inflation data in the United States exceeding expectations.
Fund flow details
The Coinshares report showed that Bitcoin, which was “very sensitive” to interest rate expectations, bears the burden of these recent outputs, which witnessed about $ 430 million in external flows.
It is worth noting that there were no significant flows in short bitcoin products, which indicates that investors were not pivotal to the declining reality, but rather again from the market. This indicates a cautious approach among investors because they are weighing high interest rates and inflation pressures.
While Bitcoin faced heavy flows, other assets were able to attract flows. Solana led the road with $ 8.9 million, followed by XRP and SUI, which saw $ 8.5 million and $ 6 million, respectively.
Blockchain’s shares also showed flexibility, as it recorded $ 20.8 million in flows, which reaches a date over the date of $ 220 million. Meanwhile, most external flows in the United States were focused, with a total of $ 464 million, while countries like Germany, Switzerland and Canada have mentioned flows.
Performing the encryption market
Despite this negative performance of the fund’s flow from the encryption market last week, although it still seems that he still wants to be different yet. In the early hours of Monday, Bitcoin witnessed a brief decrease to $ 95,000 after decreasing to less than 96,000 dollars.
At the time of writing this report, the original was currently trading of $ 96,451, not only a decrease of 0.3 % in the past day, but decreased by 11.4 % from its highest level ever exceeding $ 109,000, recording in January.
It is worth noting that this decrease in the price of bitcoin today alone has led to the removal of more than $ 4 billion from the maximum assessment of the Crypto Global Market. As of now, the overall evaluation of the encryption market sits at $ 3.34 trillion representing 2 % diving last day.
Interestingly, amid this landfill, Ethereum cleared the trend with a positive performance. Over the past day, ETH rises by 3.8 % to the current trading price of $ 2,790.
When zooming, it turns out that this positive performance of ETH was completely gradual in erasing the negative performance of the original in recent weeks.
A distinctive image created with Dall-E, the tradingView chart
