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Bitcoin

What happened to Bitcoin and the lamentation last week

The encryption market has been bleeding for weeks, which is evident in the external flows recorded by Bitcoin boxes and boxes circulating in ETHEREM (ETFS) and products.

Last week alone, the financial vehicles that follow each of the assets witnessed external flows exceeding $ 1.2 billion in many countries, including the United States, Switzerland and Canada. Withdrawals from other digital asset products raised $ 1.7 billion, and in the past five weeks, total external flows of this negativity exceeded $ 6.4 billion.

980 million dollars, we left the Bitcoin Etfs spot

Monday a report From Digital Asset Investment Company, which revealed that Crypto’s investment products were distinguished by its seventeenth day in a row of external flows, as Bitcoin led this trend. The company said that this is the longest negative series it witnessed since its records began in 2015. Because of this decrease in prices and closed external flows, the total assets subject to management of investment products decreased by digital assets by 48 billion dollars.

The Bitcoin ETF market in the United States alone has formed more than $ 980 million of external flows from the traded investment funds issued by many asset managers such as Blackrock, Grayscale, Fidelity, Ark Invest/21shares and Wisdomtree.

IBIT of Blackrock witnessed the largest external flow, amounting to $ 383 million, while FBTC FIDELITY followed its example with $ 316 million in withdrawals. IBIT only one day of flow from five days trading throughout the week. FBTC witnessed the same thing, but it recorded only three days of external flows and one day of non -flow.

From 10 to 14 March, the Bitcoin market in the United States did not witness only one flow, for every coinglass Data. The cross flows recorded by IBIT, FBTC, Ark Invest’s Arkb, VANECK’s HODL and Bitwise’s Bitb are not enough to make up for the huge external flows seen in about two days trading. The money lasted for two days without any flows at all.

Ethereum boxes bleed

For the Ethereum ETF market for the United States, the money has been in an external line since March 5. However, it is lost 189 million dollars last week.

Again, Etha of Blackrock led the losses with external flows exceeding $ 63 million, while Fedelity’s Feth followed with withdrawals exceeding $ 61 million. Instant investment funds recorded only two days of flows – their only positive flows since March 5 – but deposits are still not sufficient to compensate for withdrawals. In fact, flows were less than $ 1.5 million on each occasion.

Meanwhile, these external flows come as the owner of Bitcoin and the ether in order to return to 90,000 dollars and 2000 dollars, respectively.

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