Losing blood for two weeks! The net outflow of digital assets was 584 million magnesium, but investors chose to buy "these 3 currencies" at the bottom?

Digital asset investment products saw a net outflow of 584 million magnesium last week

The latest weekly report data from digital asset management company CoinShares shows that digital asset investment products (ETF/ETP, etc.) launched by institutions last week saw a net outflow of US$584 million, which has been a net outflow for two consecutive weeks.

CoinShares analysts believe that the net outflows reflect investors’ pessimism about the chances of a U.S. interest rate cut this year. According to statistics, global digital asset investment product trading volume last week was only $6.9 billion, a new low since the launch of the Bitcoin spot ETF in January.

Regionally, the United States saw the largest outflows at $475 million, while Canada also saw outflows of $109 million. Germany and Hong Kong also saw outflows of US$24 million and US$19 million respectively, but Switzerland and Brazil experienced net inflows of US$39 million and US$48.5 million respectively.

Multi-asset saw a huge inflow of nearly 100 million magnesium. Are investors buying the bottom of these 3 currencies?

Looking at asset classes, Bitcoin ($BTC) saw a net outflow of $630 million last week, but the recent pessimism did not allow short traders to increase their positions, with short Bitcoin (Short Bitcoin) products seeing an outflow of $1.2 million.

Although Ethereum ($ETH) saw net inflows ahead of the approval of the Ethereum spot ETF, it was still unable to withstand market pessimism in the past two weeks, with outflows reaching $58 million.

Although the big brother and the second brother in the market performed poorly, many altcoins saw capital inflows when prices were low. CoinShares analysts specifically named Solana ($SOL), Litecoin ($LTC), and Polygon ($MATIC), which saw inflows of $2.7 million, $1.3 million, and $1 million respectively.

It is worth noting that multi-asset products saw a net inflow of $98.3 million last week. Analysts believe this means investors view altcoin weakness as a buying opportunity.

U.S. Bitcoin spot ETF saw net outflows of $174 million on Monday

Preliminary data compiled by the British investment company Farside Investors show that the U.S. Bitcoin spot ETF saw a net outflow of US$174 million on Monday, marking the third consecutive day of net outflows. Judging from the data, Fidelity’s product $FBTC has seen larger outflows recently, falling between $35 million and $51 million.

Since its listing in January, U.S. Bitcoin spot ETFs have seen a total net inflow of $14.3 billion, of which Grayscale’s product $GBTC has seen an outflow of $18.4 billion, and BlackRock’s product $IBIT has seen an inflow of $17.6 billion.

[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.