Crypto funds have seen 5 consecutive weeks of outflows, the longest streak since their inception.
During this time, over -$4 billion in withdrawals have been recorded.
Crypto ETFs have now posted outflows in 12 of the last 17 weeks.
Last week alone, Bitcoin funds recorded -$215 million in outflows, while short-Bitcoin investment products saw +$5.5 million in inflows, the largest of any asset.
Crypto sentiment is still getting worse.
This is what happens when Bitcoin gets conflated with crypto. It becomes a speculative asset.
It will be painful in the short-run, but washing out all the altcoins will be good for bitcoin in the long run
Agreed.
Interesting that shorts are seeing inflows while Bitcoin funds bleed. The market is really bracing for more volatility.