Outflows from cryptocurrency investment products from October 1–7 amounted to $5 million, versus inflows of $10.3 million a week earlier. Analysts at CoinShares said.
“Trading volumes remain historically low. Investors await signals that the U.S. Federal Reserve is ready to reassess hawkish monetary policy.”, the report says.
In traditional Bitcoin funds there was an inflow of $12 million ($7.7 million a week earlier).
Shorting vehicles for Bitcoin saw a record outflow of $14.7 million — twice the size of outflows in any prior week and equivalent to about 10% of AUM.
Outflows from Ethereum funds amounted to $2.2 million, versus inflows of $5.6 million a week earlier. Analysts say this underscores persistent investor hesitancy after the Ethereum Merge.
In funds focused on other altcoins, there were modest outflows — Cardano (-$0.5 million), Solana (-$0.2 million).
Multi-asset funds attracted $1.1 million (a week earlier there was an outflow of $0.7 million).
Bitcoin price fell below $20,000 after the US payrolls report on Oct. 7.
Earlier, former hedge-fund manager Jim Cramer, the host of Mad Money on CNBC, said that tighter monetary policy would trigger a washout of speculative instruments such as digital assets.
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