{"id":20821,"date":"2023-08-07T21:36:56","date_gmt":"2023-08-07T21:36:56","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-funds-see-weekly-outflows-of-111m-most-since-march-coinshares\/"},"modified":"2023-08-07T21:36:58","modified_gmt":"2023-08-07T21:36:58","slug":"bitcoin-funds-see-weekly-outflows-of-111m-most-since-march-coinshares","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-funds-see-weekly-outflows-of-111m-most-since-march-coinshares\/","title":{"rendered":"Bitcoin funds see weekly outflows of $111M, most since March: CoinShares"},"content":{"rendered":"
Weekly cryptocurrency asset flows for the week ending Aug. 4 reconciled at $107 million in outflows, continuing a three-week negative trend totaling $134.8 million.<\/p>\n
Once again, the lion\u2019s share of movement was attributed to Bitcoin (BTC). With $111 million in outflows, Bitcoin funds negated the majority of inflows for the week. <\/p>\n
According to CoinShares\u2019 \u201cDigital Asset Fund Flows” weekly report, this indicates further \u201cprofit taking\u201d on the heels of the previous cycle\u2019s gains. For the month leading up to the recent spate of outflows, inflows of $742 million\u00a0into crypto funds\u00a0were seen, with 99% of that coming into Bitcoin. <\/p>\n