Bitcoin Investment Products See Historic Outflows

Bitcoin investment products saw record-breaking outflows worth $453 million last week. Short-Bitcoin saw inflows totaling US$15m due to the launch of the first US-based short investment product last week, while older short-investment products saw outflows. Bitcoin briefly touched a low of $17,700, which is the lowest level since November 2020. Bitcoin is trading down by almost 70% from its all-time highs in November 2021. Bitcoin AuM at US$24.5bn, the lowest point since the beginning of 2021. The market cap of cryptocurrencies dropped by almost $2 trillion in the last seven months in the past seven months. The outflows occurred on 17th June but were reflected in last week’s figures due to trade Source