For the fifth consecutive week, sales continue to outweigh capital
sales continue to outweigh capital outflows from digital currency funds Statistics on cash flow in special funds for investing in cryptocurrency show that investors also pulled some of their assets out of these products this week.
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While Bitcoin and Atrium funds were outflowing during this period, Solana's special funds had more than $5 million in inflows.
For the fifth week in a row, investors withdrew their money from digital currency investment funds, according to Kevin Desk.
This reflects the declining market climate, and Bitcoin has experienced one of the worst starts to the new year.
In the seven days to January 14, $73 million in digital currency was withdrawn from mutual funds, according to a report released by CoinShares on Monday.
Money outflows reached $532 million over five consecutive weeks, bringing the total value of digital currencies remaining in mutual funds to $56.1 billion.
55 million of the total outflows came from Bitcoin-specific mutual funds. Atrium-related funds also generated a total of $30 million in outflows.
The report emphasizes that for the first time this year, on Wednesdays and Fridays last week, money was transferred to digital currency funds.
Capital inflows show that traders' downward sentiment is declining following recent positive price movements.
- Recent price movements remain relatively slow. In the last seven days, Bitcoin has lost 2.5 percent and is now trading around $41,000, while Atrium has lost 3.5 percent and is now trading around $3,100.
- Solana, on the other hand, seems to have been a favorite of investors, with a total of $5.4 million invested in these funds.
- According to Quinn Shears, investment funds in Solana have faced capital outflows for just two consecutive weeks since August 2021.