![]() "Ethereum has remained relatively insulated from the recent negative sentiment, seeing only $0.2 million of outflows last week," CoinShares said, while noting minor inflows in the tokens of the Polygon, Solana and Cardano blockchains. investors prompted by the recent stronger-than-expected macro data releases, but also highlights its sensitivity to the regulatory crackdown in the U.S.," CoinShares noted in the weekly report, explaining the inflow into short-bitcoin funds.īitcoin ( BTC) fell over 3% last week after failing to establish a foothold above a key resistance level at $25,000.Įther (ETH), the second-largest cryptocurrency by market value, fell 2.4%, outperforming perhaps because of its rising deflation rate. ![]() "We believe this reaction reflects nervousness amongst U.S. A "short" position in financial markets is a bet on a price decline. For instance, ProShares Short Bitcoin Strategy ETF offers short BTC exposure that profits from the cryptocurrency's price declines. Short funds provide investors a bearish exposure to an asset's price. Long-bitcoin funds bled $12 million, the third straight weekly outflow.īroadly speaking, digital-asset investment products saw minor outflows of $2 million. ![]() ![]() 24, according to crypto asset manager CoinShares. Short-bitcoin funds had $10 million in inflows during the week ended Feb. economic data and the prospect of renewed outsized rate increases by the Federal Reserve weakened the appetite for risky assets. The funds measured are investment products that give traditional investors exposure to crypto without having to also custody of said crypto themselves. Investors poured money into short bitcoin funds last week as upbeat U.S. Outflows for Bitcoin-specific funds totaled 453 million, wiping off all the inflows made over the past six months, according to a CoinShares report. Join the most important conversation in crypto and web3! Secure your seat today
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