Outflows from cryptocurrency investment products for 18–24 June totalled a record $423 million, according to CoinShares analysts.
[5/5] To read the full report click here: https://t.co/MbvaGEUdwi
— CoinShares 👩🚀 (@CoinSharesCo) June 27, 2022
The figures covered a fall in Bitcoin’s price ниже психологического уровня в $20 000. The previous record outflow for crypto funds stood at $198 million. It dates from January 2022.
In relative terms, the picture looked better — AUM fell 1.2%, whereas at the peak of the 2018 crypto-winter the weekly decline reached 1.6%.
Arcane Research suggested that the liquidation of half of the AUM in the Purpose Bitcoin ETF could be a catalyst for Bitcoin’s price to drop to $17,800.
Earlier, Glassnode analysts reported that Bitcoin’s fall below the $20,000 level triggered a new wave of deleveraging that affected miners and hodlers.
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