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Crypto market sees nearly $1 billion in outflows this week


Crypto market sees nearly $1 billion in outflows this week

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Crypto funds bled nearly $1 billion this week as CoinShares reported global crypto exchange-traded products lost $920 million, with Bitcoin products alone seeing $830 million in outflows. The selloff was triggered by hotter US inflation/producer prices that prompted a risk-off move, hitting Bitcoin harder than the rest of the crypto market and pressuring liquidity and short-term price risk for ETPs and DeFi exposure.

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Crypto funds bled almost $1 billion this week as hotter US inflation numbers pushed investors away from risk and hit Bitcoin harder than the rest of the market. CoinShares (STO: CS) said global crypto exchange-traded products lost $920 million, while Bitcoin products alone saw $830 million leave. The pressure started after US producer prices came...
Read the article at CryptoPolitan

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In This News

Coins

$ 63.92K

+1.03%

$ 0.0449

+1.28%

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See what traders are focused on

View analytics →
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