The outflow of funds from cryptocurrency investment products from March 4 to March 10 amounted to the maximum $255 million in history against $17 million a week earlier. Such estimates led analysts CoinShares.
Negative dynamics continued for the fifth week in a row.
The specified $255 million is equivalent to 1% of funds under management. The indicator returned to the values at the beginning of the year.
A more significant drop in relative terms AUM happened in May 2010. Since then, AUM has grown by 861%, experts recalled.
Investors withdrew $244 million from traditional bitcoin funds ($20.1 million a week ago). The outflow from structures that allow opening shorts on the first cryptocurrency amounted to $1.2 million against an inflow of $1.8 million in the previous reporting period.
Altcoins saw mixed dynamics. From products based on Ethereum, Litecoin and Tron, investors withdrew $11 million and $0.3 million each, respectively. Solana-based funds raised $0.4 million, XRP – $0.3 million.
Recall that on March 13, bitcoin exceeded $22,000 against the backdrop of a statement by the US Treasury and FDIC.
Earlier, Glassnode analysts noted an improvement in market sentiment and the potential for further growth in the price of bitcoin, based on the analysis of on-chain indicators.
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