Record Outflows in Cryptocurrency Reaches $417 Million Over 8 Weeks

Cryptocurrencies experienced outflows totaling $88 million, escalating the eight-week outflow to $417 million, thus shutting down a 12-week record high that had been observed from April to June the previous year. What’s the current state of the market? Let’s delve into it! CoinShares Reports! A report released by CoinShares stated that, similar to the previous year, the current position sees no clear end in sight for interest rate hikes due to monetary policy, purportedly prompting investors to exercise caution. Interestingly, the report indicates that 87% of these outflows were focused on a single provider, which resulted in almost all outflows being centered in North America. While Switzerland saw small entries worth $9.2 million, Germany witnessed outflows amounting to $9.4 million. Bitcoin saw outflows that reached a total of $52 million, alongside an eight-week total of $254 million in outflows, representing 1.2% of total assets under management (AuM). Short-bitcoin experienced an […] The post Record Outflows in Cryptocurrency Reaches $417 Million Over 8 Weeks appeared first on COINTURK NEWS.