At the start of this week, the cryptocurrency market continued its trend of increasing uncertainty, with investment products related to digital assets, including Bitcoin and Ethereum, experiencing a sixth consecutive week of net outflows.
Last week, total cryptocurrencies saw a net outflow of $5.9 million. Ethereum-linked investments recorded an outflow of $2.2 million. Bitcoin short-selling investment instruments also registered a net outflow of $2.8 million.
The total trading volume for these digital asset investment products was noticeably low last week, reaching only $820 million. This marked a notable decline from the average yearly trading volume of $1.3 billion, and mirroring the broader slowdown in digital asset market activity.
Bitcoin, unfortunately has been experiencing minor outflows for three consecutive weeks, totaling $6 million. Additionally, short-Bitcoin products have seen outflows of $2.8 million. This suggests that investors are slowly reversing their short positions following a brief inflow of $15 million earlier in the month.