Analysis conducted by CoinShares highlighted that crypto markets saw a fifth consecutive week of outflows with the current week totaling a $32.1 million loss.
CoinShares sourced data from digital asset investment providers, such as Grayscale and ProShares, which cater to institutional and accredited investors.
Head of Research at CoinShares, James Butterfill, commented this was due to “poor sentiment focussed on BTC.”
Crypto markets suffer fifth consecutive weekly outflow
The chart below shows the consecutive crypto asset outflows from week 16. The total outflows during this period amounted to $232 million.
Since the start of 2023, there have been more outflow weeks than inflows, with week 10 (beginning Monday, March 6) representing the most significant weekly outflows this …