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Crypto Funds Record First Outflow of Funds in a Month

Crypto Funds Record First Outflow of Funds in a Month

According to the latest report released by CoinShares, the outflow of funds from cryptocurrency investment products from February 4 to 10 amounted to $7 million, compared with an inflow of $23 million a week earlier.

The report reads:

“After the publication of macroeconomic data, some investors were frightened by the prospect of additional Fed rate hikes.”

Traditional Bitcoin funds saw an outflow of $10.9 million versus an inflow of $68.5 million a week ago. $3.5 million was withdrawn from the structures that allow opening shorts on BTC, compared to the $8.2 million that was invested in the previous reporting period).

The outflow from products based on various altcoins amounted to $2.4 million. The negative dynamics continued for the eleventh week in a row.