- Net figure was $232 million
- Crypto funds were in the discount zone due to the passivity of traders in the BTC market
- Investors are waiting for the next “trigger” and are afraid to take action now, when the rate could collapse
Monday, May 22, Coinshares published weekly report “Digital Asset Fund Flows”. According to him, there is a significant outflow of funds in institutional crypto funds. And this trend continues for more than a month.
Between May 15 and May 19, the net outflow of funds for these positions amounted to $32 million. If you take the volume for all five weeks, then the figure will be staggering – $232 million.
This is clearly seen in this diagram:
Recently, institutional crypto funds have been in the discount zone. At the same time, a different situation was observed in March and early April, which can be explained by high expectations of traders against the backdrop of problems in the banking segment.
James Butterfill, head of research at CoinShares, noted that this market situation is primarily associated with bitcoin. More precisely, with negative expectations regarding the movement of the price trend in this segment.
From April 21 to May 19, the BTC rate fell by 4.8%. Cointelegraph market analyst Yasha Gola believes that the trend is stuck due to the passive behavior of traders. Investors are anticipating the next significant “trigger”.
And he, quite possibly, will appear in the near future. Recall that yesterday, May 22, we also reported on the narrowing of the BTC trading range to a minimum over the past few months. And this may mean the imminent emergence of a breakthrough impulse, however, both positive and negative.