CoinShares has noted significant outflows from institutional products this past week, signaling some institutions have been realizing profits amid BTC’s recent pull-back.
A new report from crypto fund provider CoinShares has indicated that some institutional investors have been realizing profits during BTC’s recent consolidation.
CoinShares’ weekly digital asset flows report identifies $85 million in outflows from institutional crypto products this past week, asserting the data suggests “some investors are continuing to take profits after [BTC’s] strong price appreciation.”
The report noted the rising (trade-weighted) US dollar, stating the USD index “is typically inversely correlated to Bitcoin prices,” and could explain why some investors are taking profits at the current levels.
The firm also identified modest outflows from Ethereum-derived investment products, with $3 million leaving the markets.