Crypto-product trading volume hits two-year low

Inflow to crypto-asset investment products from December 3 to 9 totaled $8.8 million, with trading volume at a two-year low of $677 million. CoinShares analysts described the figures.

In the previous week, outflows from crypto products amounted to $7.5 million.

In traditional bitcoin funds, inflows of $17 million were observed, versus $10.8 million in the previous reporting period.

From products that allow shorting the first cryptocurrency, $3.9 million were withdrawn (November 26 to December 2 — $11.1 million).

Last week showed positive sentiment— for the second week in a row outflows continued from most investment products with ‘short’ positions,

analysts commented.

From Ethereum funds, $2.4 million was withdrawn, versus $4 million a week earlier.

In altcoins (excluding Ethereum), mixed dynamics were recorded. Basket-based products posted outflows of $1.7 million.

Earlier, Euro Pacific Capital president Peter Schiff predicted Bitcoin would fall below $5,000.

A similar scenario as a possible deviation from the current market consensus was presented by Standard Chartered analysts.

Read ForkLog’s Bitcoin news on our Telegram — cryptocurrency news, prices and analytics.