- Net was $232 million
- Cryptofunds were in the discount zone due to traders’ passivity in the BTC market
- Investors are waiting for the next “trigger” and are wary of taking action now that the rate could collapse
On Monday, May 22, Coinshares released its weekly “Digital Asset Fund Flows” report. According to him, institutional cryptofunds have a significant outflow of funds.
And this trend has continued for more than a month.
From May 15 to 19, the net outflow for these positions was $32 million.. If you take the volume for all five weeks, the number is staggering at $232 million.
This can be clearly seen in this chart:
Lately, institutional crypto funds have been in the discount zone. In March and early April, however, the situation was different, which can be explained by high expectations of traders amid problems in the banking segment.
Head of research CoinShares James Butterfill said that this situation in the market is primarily due to the bitcoin.
More precisely, with negative expectations regarding price trend movement in this segment.
From April 21 to May 19, the BTC exchange rate decreased by 4.8%.. Cointelegraph market analyst Yasha Gola believes that the trend is stuck because of passive behavior of traders.
Investors are waiting for the next big “trigger.”
And it may well be coming soon.. Recall, yesterday, May 22, we also reported on the narrowing of the BTC trading range to its lowest in several months.
And that could mean a breakthrough momentum soon, whether positive or negative.