According to CoinShares, exit from the cryptocurrency market reached a record level of $423 million last week.
Leading crypto asset management company CoinShares has released its new report. According to this, 423 million dollars exit from the crypto money market was realized last week. While there was an outflow of 453 million dollars in Bitcoin; There was a total of $30 million inflows into Ethereum and other crypto assets.
The biggest breakout ever seen was in February 2018, when there was a fierce bear market. Last week’s exit represents the third biggest exit ever seen.
Source: CoinShares Digital Asset Fund Flows Weekly – 27th June 2022Unlike the massive outflows in Bitcoin, Ethereum saw an inflow of $11 million last week for the first time after eleven weeks of successive outflows.
As we have mentioned before, Bitcoin had regressed to $ 17,000 last week. After some recovery, Bitcoin is now trying to protect $21,000. As it is known, the Fed’s aggressive interest rate hike plan has brought great decreases to risky assets such as crypto assets.
