Outflows Rock Bitcoin As Institutional Investor Sentiment Starts To Turn
2022年8月17日 - 02:00AM
NEWSBTC
Institutional investor interest in bitcoin has mainly been
fluctuating in the last month. As the market has gone through the
different phases of bull and bear market, so have the sentiment of
investors gone through positive and negative. For the past week,
though, it seems the latter had eventually won through as outflows
had rocked bitcoin, even at a time when the digital asset had done
a relatively good job of holding above $20,000. Bitcoin Sees $21
Million In Outflows The most recent report from CoinShares
regarding the investments of institutional investors shows a unique
perspective of how big money is looking at the crypto market. After
seeing a fairly good month of inflows back in July, the trend has
now posed a reversal as bitcoin sees some of the most substantial
weekly outflows it has seen in recent months. Related Reading:
Bitcoin Price Gears Up For Another Rally After Testing $25,000
Outflows for bitcoin for last week came out to $21 million, the
largest on a month-to-date basis. It is, however, not the first, as
this is the second week of consecutive outflows for the digital
asset, totaling $29 million in outflows on a month-to-date basis.
Bitcoin was not the only asset to experience outflows for the week.
Digital investment products also saw outflows of $17 million for
the same time period. This is evident that institutional sentiment
is skewing toward the negative when it comes to the crypto market.
BTC falls below $24,000 | Source: BTCUSD on TradingView.com
Institutional Investors Are Not Completely Bearish Bitcoin and
digital investment products had seen outflows for the week, but it
was not the case overall. There are other assets that saw inflows,
albeit minor, for the week. One of those was short bitcoin that
recorded inflows of $2.6 million last week. Blockchain equities
also saw inflows of $8 million for the same time period. This is a
positive improvement for this asset class, given that inflows had
slowed down over the last couple of months, bringing year-to-date
inflows to a measly $15.5 million. Related Reading: Ethereum Hits
New Milestone, Investors Accumulate Ahead Of Merge Altcoins were
also met with inflows for the week, although this was across a
large variety of altcoins. In total, $3.9 million flowed into these
altcoins, and Uniswap was the only notable outperformed in the list
with inflows of $100,000. This goes to show just how much inflows
have also slowed down in these altcoins. Most of the inflows came
from across the pond in Europe, while the majority of outflows came
from North and South American exchanges. So it is safe to say that
sentiment is not consistent across regions. Outflows show that
American investors are more bearish compared to their European
counterparts. Featured image from CNBC, chart from TradingView.com
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