Cryptocurrency market continues to experience consecutive declines. After billions of dollars entered cryptocurrency investment products, we are now witnessing the first capital outflow from this sector. Last week, investors withdrew $415 million from cryptocurrency-based investment products. The highest outflow was from Bitcoin (BTC) exchange-traded funds (ETFs), with $430 million exiting. This has led to a $22 million decrease in total capital inflow into these funds since the beginning of February. This trend is occurring while previously, Bitcoin saw new capital inflows for 19 consecutive weeks. Alongside Bitcoin, Ethereum (ETH) investment funds also faced a $7.2 million outflow. However, some altcoins are still experiencing capital inflows. Last week, investments in products related to Ripple (XRP), Solana (SOL), Cardano (ADA), and Litecoin (LTC) increased by $8.5 million, $8.9 million, $1.9 million, and $1.2 million respectively. Overall, cryptocurrency asset inflows were on average 30% lower compared to the previous week, indicating that investors are still buying these assets but with less intensity. On the other hand, Bitcoin has taken a different trend from the S&P 500 index, which could impact its price outlook. If this divergence continues, it may affect investors’ decisions and the overall market direction. Visit the digital currencies’ price page for real-time updates on all tokens and cryptocurrencies.
