- CoinShares reported an increase in digital asset capital outflows last week.
- Bitcoin recorded $33 million in outflows following a volatile trading session last week.
- Altcoins inflows notched higher, led by funds moving into Solana, Cardano, XRP, and Chainlink.
Amidst the volatility in the cryptocurrency market, CoinShare’s latest analysis shows capital outflows in digital asset investment products ticked higher than inflows during the previous week. However, the report clarified the outflows are more a result of profit-taking than a swing in sentiment.
The report noted that digital asset investment products saw outflows of $16 million last week. According to the report, the increase in outflows ended 11 consecutive weeks of inflow.
Additionally, CoinShares stated that even with the withdrawals, trading activity was still significantly higher than average, with $3.6 billion traded during the week compared to the $1.6 billion weekly average for the year.
Regionally, the United States and Germany accounted for nearly $18 million and $10 million of the outflows, respectively. This was offset however, by substantial inflows of $9.1 million and $6.9 mil…
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