A new ‘high’ for Bitcoin and the crypto-market, but here’s why that will change…

ambcrypto.com:

According to a new report by digital asset investment firm CoinShares, product outflows registered the largest single weekly outflows on record last week. It found that record-breaking outflows of $255 million were removed from digital asset investment products last week, marking the fifth consecutive week of outflows. Last week’s outflows represented a mere 1.0% of total assets under management (AuM). 

The drop in AuM, however, culminated in a 10% decline in total AuM, reaching the same level as towards the start of 2023. Also, the $225 million outflows “wiped out all the inflows seen this year,” CoinShares found. 

The significant decline in AuM is a sign of a lack of confidence among investors due to increased volatility in digital assets. The record-breaking outflows also indicated that investors took to withdrawing from digital asset investment products, possibly seeking safer investment options.

Source: CoinShares

After several weeks of non-stop inflows into Short-Bitcoin products, they logged outflows that totalled $1.2 million last week. On a year-to-date basis, short-Bitcoin “is now the investment product with the largest inflows of US$49m,” CoinShares noted.

Of the $255 million removed from the digital asset investment products market last week, Bitcoin [BTC] recorded the highest outflows. According to the report, the king coin logged total outflows of $244 million, representing a whopping 95% of all monies removed from the sector last week. 

Despite last week’s minor outflows from Short-Bitcoin products, the value of its AuM rose by 9%.  This starkly contrasted with Long-Bitcoin AuM, which declined by 10% during the same period. Regarding BTC’s year-to-date fund flows, CoinShares found that this stood at $118