📰 Table Of Contents
Overview of Digital Asset Investment Products
Recent data shows a decline in investor interest in digital asset investment products, with outflows totaling $206 million. This marks the second consecutive week of decreasing investor activity.
Bitcoin Investment Products
Bitcoin investment products witnessed outflows of $192 million, while short-Bitcoin strategies experienced outflows of $0.3 million.
Trading Volumes in ETPs
Trading volumes in Exchange Traded Products (ETPs) saw a slight dip, reaching $18 billion. The trading volumes in ETPs accounted for 28% of total bitcoin volumes, a significant decrease from the previous month’s 55%.
Regional Trends
- US ETFs saw outflows of $244 million, primarily focused on existing ETFs.
- Canada and Switzerland experienced inflows of $30 million and $8 million, respectively.
- Germany saw minor outflows of $8 million.
Ethereum and Other Assets
Ethereum faced outflows of $34 million for the sixth consecutive week. Multi-asset products attracted inflows of $9 million, while Litecoin and Chainlink saw inflows of $3.2 million and $1.7 million, respectively.
Blockchain Equities
Concerns over the impact of halving continued to weigh on investor sentiment, leading to the eleventh consecutive week of outflows for blockchain equities, amounting to $9 million.
Bitcoin Price Movement
Bitcoin is currently trading at $66,266, showing a 2% increase over the past day. Analysts remain bullish on the long-term outlook, despite potential short-term price fluctuations following the halving event.
Expert Insights
Experts predict that Bitcoin may experience selling pressure in the lead-up to the halving event, but historical data suggests potential exponential gains in the year following the event.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.