Analysts report outflows from bearish Bitcoin funds

From the structures that allow shorting the leading cryptocurrency, withdrawals of $5.1 million were recorded from September 17 to 23. Previously there were inflows for seven consecutive weeks, resulting in their AUM reaching a record $172 million, CoinShares analysts CoinShares.

Net inflows into crypto investment products for the period totaled $8.3 million, up from $7.3 million a week earlier.

In traditional Bitcoin funds there were inflows of $2.6 million (vs. $17 million a week earlier).

Outflows from Ethereum funds for four consecutive weeks were followed by inflows of $6.9 million. Among products based on other altcoins, XRP-based ones stood out with $0.5 million.

Crypto-asset basket funds attracted $1.8 million.

Earlier in August, former hedge fund manager Jim Cramer of Cramer & Co. and host of Mad Money on CNBC said that tighter monetary policy by the ФРС will lead to “washout” of speculative assets such as cryptocurrencies.

Nassim Taleb called Bitcoin a “tumor”, which was brought about by the Fed’s accommodative monetary policy.

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