Long-Bitcoin logs outflows totaling $2.6m while ETH, SOL register…

ambcrypto.com:

The cryptocurrency market has faced some of the toughest times in the year 2022. However, the market, on the whole, has been showcasing signs of recovery.

Bitcoin [BTC], in particular, has been recuperating, although the overall rallying is much slower than anticipated. The same has been highlighted in the latest CoinShares report.

The recent Digital Asset Fund Flows Weekly report on 19 July touched on different narratives concerned with the ongoing crypto market. One thing remains clear — ‘Inflows into short-bitcoin continue but lowest volumes since October 2020.’

Last week digital asset investment products saw a mere $12 million worth of inflow. Unfortunately, this marked the third consecutive week of meager inflows.

Source: CoinShares

Herein, the short investment products saw the most activity as they amounted to $15 million. However, long investment products witnessed outflows. This is further depicted in the table given below.

Source: CoinShares

Long-Bitcoin saw outflows totaling $2.6 million while total assets under management (AuM) rose from 11.4% since the end-June low to $17.8 billion.

Interestingly, investors are still adding toshort-Bitcoin positions, with inflows totaling $15 million last week, bringing inflows to a record four-week run totaling $88 million (61% of AuM).

This sheds light on an important but grim scenario. New investors expected further price downside, while those currently invested are not selling out of positions, believing crypto prices are close to a bottom.

The altcoins too painted a similar picture. Ethereum [ETH], the largest alt, saw minor outflows totaling $2.5 million, ending a three-week run of inflows.

Although, month-to-date flows remain positive at $6.6 million.

Other altcoins saw very