{"id":23164,"date":"2023-08-29T19:31:07","date_gmt":"2023-08-29T19:31:07","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-remains-the-focus-as-outflows-hit-march-highs\/"},"modified":"2023-08-29T19:31:07","modified_gmt":"2023-08-29T19:31:07","slug":"bitcoin-remains-the-focus-as-outflows-hit-march-highs","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-remains-the-focus-as-outflows-hit-march-highs\/","title":{"rendered":"Bitcoin remains the focus as outflows hit March highs"},"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\/2023\/06\/1688140693394-a995e09d-e135-4a5b-b0ce-467aa113b7b7-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1688140693394-a995e09d-e135-4a5b-b0ce-467aa113b7b7-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1688140693394-a995e09d-e135-4a5b-b0ce-467aa113b7b7-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1688140693394-a995e09d-e135-4a5b-b0ce-467aa113b7b7-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Digital assets investment products saw outflows of $168 million last week, $146 million of which was for Bitcoin.<\/li>\n<li dir=\"ltr\">It\u2019s the largest weekly outflows total since March 2023, according to a report by CoinShares.<\/li>\n<\/ul>\n<p dir=\"ltr\">CoinShares\u2019 latest <a href=\"https:\/\/blog.coinshares.com\/volume-146-digital-asset-fund-flows-weekly-report-73341d6e96c4\" rel=\"noopener noreferrer\" target=\"_blank\">weekly report<\/a> on digital asset investment flows shows that the market witnessed its largest funds outflows in nearly six months last week. The outflows come as sentiment across <a href=\"https:\/\/coinjournal.net\/news\/\">cryptocurrency<\/a> dips amid recent sell-off.<\/p>\n<h2 dir=\"ltr\">Crypto sees $168 million in outflows<\/h2>\n<p dir=\"ltr\">According to the report, outflows totaled $168 million over the week to mark the largest outflow from crypto products since March 2023 when the US Securities and Exchange Commission (SEC) <a href=\"https:\/\/coinjournal.net\/news\/expert-secs-war-on-crypto-just-getting-started\/\">started its regulatory crackdown on major exchanges<\/a>.<\/p>\n<p dir=\"ltr\">The outflows in the week ended August 25 saw the monthly outflows stand at $278 million as sentiment continued to trend negative amid \u201cexceptionally low trading volume.\u201d Indeed, CoinShares data shows the investment products market traded $1.3 billion last week, about 16% off the year\u2019s average.<\/p>\n<p dir=\"ltr\">\u201c<em>This negative sentiment we believe is due to the increasing acceptance that a spot-based ETF for Bitcoin in the US is likely to take longer than many expect, with recent delays being announced by the SEC<\/em>,\u201d said James Butterfill, head of research at CoinShares.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Largest weekly outflows from digital asset investment products since March 2023<a href=\"https:\/\/t.co\/Rl00wvyLl9\">https:\/\/t.co\/Rl00wvyLl9<\/a><\/p>\n<p>\u2014 James Butterfill (@jbutterfill) <a href=\"https:\/\/twitter.com\/jbutterfill\/status\/1696488970945732884?ref_src=twsrc%5Etfw\">August 29, 2023<\/a><\/p>\n<\/blockquote>\n<h2 dir=\"ltr\">Bitcoin continues to lead<\/h2>\n<p dir=\"ltr\">The crypto market recently witnessed a sharp sell-off for <a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin<\/a>, the benchmark cryptocurrency falling to lows of $25,350. The struggle to strengthen above $26k has illustrated the market jitters permeating the broader risk assets sector, with this shown in outflows from Bitcoin investment products.<\/p>\n<div class=\"fr-img-space-wrap\"><span class=\"fr-img-caption fr-fic fr-dib fr-draggable\" style=\"width: 600px\"><span class=\"fr-img-wrap\"><\/p>\n<p dir=\"ltr\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.igms.io\/2023\/07\/29\/1693315642020-8c9f0584-d34e-44dd-8986-d8fed49554e4.png\" style=\"width: 600px\" class=\"fr-fic fr-dib\" width=\"600\" height=\"260\"\/><span class=\"fr-inner\"><a href=\"https:\/\/www.tradingview.com\/x\/ACWduFSG\/\" rel=\"noopener noreferrer\" target=\"_blank\">Bitcoin price chart<\/a><\/span><\/p>\n<p><\/span><\/span><\/p>\n<p class=\"fr-img-space-wrap2\">However, while outflows totaled $149 million last week, the flagship crypto asset\u2019s flows are net positive for the year at roughly $265 million. Meanwhile, investors are increasingly selling their short positions, with $4 million in outflows registered last week for an 18-week streak of outflows.\u00a0<\/p>\n<p class=\"fr-img-space-wrap2\">Data shows shorts outflows are currently 89% of the total AuM.<\/p>\n<\/div>\n<p dir=\"ltr\">In the altcoin market, Ethereum recorded outflows of $17 million, while XRP and Litecoin had minor inflows of $0.5 million and $0.44 million, respectively.<\/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\/digital-asset-investment-products-record-largest-outflows-since-march\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Digital assets investment products saw outflows of $168 million last week, $146 million of which was for Bitcoin. It\u2019s the largest weekly outflows total since March 2023, according to a report by CoinShares. CoinShares\u2019 latest weekly report on digital asset investment flows shows [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":23165,"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\/23164"}],"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=23164"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23164\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/23165"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=23164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=23164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=23164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}