Summary
- CoinShares data shows crypto investment products recorded minor outflows of $2 million.
- Short-bitcoin funds saw inflows of $10 million amid negative sentiment driven by US economic data.
- Bitcoin recorded a total of $12 million in outflows last week, with investors betting on the price going down.
Investment Products Outflow
Digital asset investment products recorded yet another week outflows this past week as macro data continued to weigh on investor sentiment, according to asset manager CoinShares. While weekly outflows across crypto-related products was a minor $2 million, the broader market sentiment was negative as indicated by the large inflows into short investment products.
Short-Bitcoin Funds Inflow
Short-Bitcoin funds saw inflows of $10 million amid negative sentiment driven by US economic data. Investors also bet huge on the price of Bitcoin going down that week, with inflows into short bitcoin funds rising to $10 million. According to CoinShares, the negative sentiment around BTC price last week largely came from the United States and recent macro data has increased fears amongst investors that the US Federal Reserve (FED) will be more hawkish than expected.
