Crypto investment products recorded a third consecutive week of net outflows, but selling pressure eased sharply, Cointelegraph reported on Sunday.
Crypto exchange-traded products (ETPs) recorded $187 million of outflows last week, down from net outflows of $3.43 billion a week earlier. Over the same period, bitcoin fell to $60,000, its lowest level since November 2024.
James Butterfill (제임스 버터필), head of research at CoinShares, said, "Flows usually move with crypto prices, but changes in the pace of outflows often indicate a turning point in investor sentiment." He added, "A possible market bottom is being suggested."
Bitcoin investment products posted the biggest loss last week with $264.4 million in outflows. By contrast, XRP funds saw $63 million of inflows, while Ethereum and Solana ETPs recorded inflows of $5.3 million and $8.2 million, respectively.
Spot bitcoin ETFs also recorded $318 million of outflows, while trading volume rose to $63.1 billion, a record high.
Chi-gyu Hwang
delight@d-today.co.kr