{"id":17912,"date":"2023-02-21T14:12:06","date_gmt":"2023-02-21T14:12:06","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-price-rose-despite-25-million-in-product-outflows\/"},"modified":"2023-02-21T14:12:06","modified_gmt":"2023-02-21T14:12:06","slug":"bitcoin-price-rose-despite-25-million-in-product-outflows","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-price-rose-despite-25-million-in-product-outflows\/","title":{"rendered":"Bitcoin price rose despite $25 million in product outflows"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676984286075-0a542158-ba7e-41f8-b2c1-7a354f3c50e6-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676984286075-0a542158-ba7e-41f8-b2c1-7a354f3c50e6-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676984286075-0a542158-ba7e-41f8-b2c1-7a354f3c50e6-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676984286075-0a542158-ba7e-41f8-b2c1-7a354f3c50e6-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Bitcoin products saw $25 million in outflows last week, according to asset manager CoinShares.<\/li>\n<li dir=\"ltr\">There was $3.7 million in short Bitcoin as investor sentiment flipped negative on recent regulatory concerns.<\/li>\n<li dir=\"ltr\">But crypto prices still recorded huge moves, with BTC hitting a six-month high above $25,000.<\/li>\n<\/ul>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin price<\/a> hit its highest price level in six months last week, with the flagship cryptocurrency testing bears\u2019 resolve above the $25,300 zone.<\/p>\n<p dir=\"ltr\">However, digital asset management firm CoinShares <a href=\"https:\/\/twitter.com\/CoinSharesCo\/status\/1627669792709566466\" rel=\"noopener noreferrer\" target=\"_blank\">says<\/a> despite reaching a new year-to-date high, the flagship cryptocurrency still bore the brunt of the negative sentiment that pierced the market as US regulators upped their crackdown on multiple industry sectors.<\/p>\n<h2 dir=\"ltr\">Digital assets see $32 million in outflows<\/h2>\n<p dir=\"ltr\">As CoinShares Head of Research James Butterfill points out in a weekly funds flow <a href=\"https:\/\/blog.coinshares.com\/volume-119-digital-asset-fund-flows-weekly-report-f530d9a019bb\" rel=\"noopener noreferrer\" target=\"_blank\">report<\/a> released on Monday, Bitcoin recorded the largest share of outflows seen in the digital assets investment products last week.<\/p>\n<p dir=\"ltr\">Per the researcher, total crypto funds outflows totaled $32 million this past week, the largest single week outflows since December last year. But almost $25 million of the outflows were in Bitcoin products, with negative sentiment seeing short Bitcoin investment products account for $3.7 million in inflows.<\/p>\n<p dir=\"ltr\">Infact, as US Securities and Exchange Commission (SEC) increased its <a href=\"https:\/\/coinjournal.net\/news\/blockchain-company-paxos-trust-ordered-to-stop-issuing-binance-usd\/\">crackdown on stablecoins<\/a> and staking services among other sectors of the crypto industry, crypto outflows hit $62 million. The market did record significant outflows as Bitcoin led the market in holding prices above key levels.<\/p>\n<p dir=\"ltr\">According to Butterfill, the mid-week flip in sentiment (with Bitcoin price soaring more than 10%) helped digital assets products register $30 million in inflows. This in turn helped push the total assets under management in exchange-traded products (ETPs) to its highest level since last August. Butterfill noted:<\/p>\n<p dir=\"ltr\">\u201c<em>The negative sentiment amongst ETP investors was not expressed in the broader market with Bitcoin prices rising by 10% over the week, this price appreciation pushed total assets under management (AuM) to US$30bn, their highest level since August 2022. We believe this is due to ETP investors being less optimistic on recent regulatory pressures in the US relative to the broader market<\/em>.\u201d<\/p>\n<h2 dir=\"ltr\">Crypto assets saw mixed flows<\/h2>\n<p dir=\"ltr\">While Bitcoin recorded over 78% of the outflows, Ethereum products saw $7.2 million in outflows last week. Other top altcoins with large withdrawals included Cosmos ($1.6 million), Polygon ($0.8 million), and Avalanche ($0.5 million).<\/p>\n<p dir=\"ltr\">Yet, investment products for Aave, Binance, Fantom, XRP, and Decentraland saw inflows of between $0.36 million and $0.26 million, CoinShares highlighted in its report.<\/p>\n<p dir=\"ltr\">Elsewhere, while crypto assets experienced a second consecutive week of outflows, blockchain equities had a more positive outlook from investors, with $9.6 million in inflows last week. Blockchain equities have now had six consecutive weeks of inflows.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-saw-78-of-outflows-as-32-million-exited-crypto-asset-investments\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Bitcoin products saw $25 million in outflows last week, according to asset manager CoinShares. There was $3.7 million in short Bitcoin as investor sentiment flipped negative on recent regulatory concerns. But crypto prices still recorded huge moves, with BTC hitting a six-month high [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":17913,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/17912"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=17912"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/17912\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/17913"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=17912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=17912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=17912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}