Crypto funds post outflows amid regulatory uncertainty

Net outflows from cryptocurrency investment products from February 25 to March 3 totaled $17 million, versus $1.9 million a week earlier. The estimates were provided by CoinShares.

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Investors pulled $20.1 million from traditional Bitcoin funds ($11.7 million a week earlier). Inflows into products that enable shorting the first cryptocurrency totaled $1.8 million (versus $9.9 million in the previous period).

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\”The negative mood is likely reflecting investors’ ongoing concerns about the regulatory uncertainty surrounding this asset class,\” the analysts noted.

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Altcoins saw modest inflows. In Ethereum- and Solana-based products they totaled $0.7 million and $0.34 million respectively, and in products based on various altcoins — $0.8 million.

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Earlier, LookIntoBitcoin researchers noted the need for Bitcoin to break above the $25,000 mark to move toward $30,000.

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Earlier, to a similar conclusion came Adam Farthing from the company B2C2.

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In March, analyst Michael van de Poppe noted the importance of the coming weeks for Bitcoin and allowed for its price to fall below the $20 000 level.