Bitcoin [BTC]: Outflows ripple through the market as investor confidence takes a dip

As the market traded downwards, Bitcoin and short-BTC suffered liquidity exit last week. Altcoins, on the other hand, recorded inflows.

, CoinShares had noted that the continued exit of liquidity from digital asset investment products was due to the negative sentiments ravaging the general cryptocurrency market. As negative sentiments lingered last week, even more divestments were made, with a notable portion of those outflows related toAccording to CoinShares, the $54 million in outflows from digital asset investment products recorded last week represented 0.6% of total assets under management .

The additional $38 million in outflows brought the BTC’s month-to-date outflows to $69 million and year-to-date outflows to $78 million. It also led to a 4% reduction in the coin’s total AuM within a seven-day period. As for short-Bitcoin investments, there were $10.4 million worth of outflows, bringing its month-to-date outflows to $34 million. In the previous week, short-Bitcoin investment products recorded their largest weekly outflows of $23.

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