Other negative stories that are contributing factors to this market dip are the Chinese crackdowns, and Hong Kong moving to ban retail crypto trading.īitcoin is now down around 34% since the monthly open and is trading at $38,475 after hitting an all-time high of $64,868 less than two weeks ago. The announcement came after major environmental concerns surrounding bitcoin and mining arose. CoinShares opinions and research on the bitcoin, crypto and digital asset world. The dip came after, among other things, Elon Musk announced that Tesla would no longer be accepting BTC as a payment method. State of Crypto Probing the intersection of crypto and government. The Node The biggest crypto news and ideas of the day. This week, things aren’t much better, with a reported $111 million in outflows. This marked the second week in a row that BTC recorded over $100 million in outflows after last week’s record-breaking low mark.īitcoin hit another low mark last week when it saw inflow transactions to exchange wallets drop to less than 25,000. It was the worst daily number seen all year and comes on the heels of a new daily high set just last week. The latest moves in crypto markets, in context. Latest report: 13 March 2023 Read on Medium Download Report Subscribe Fund flows straight to your inbox To subscribe to our weekly fund flows alert, please fill in the form below. In its May 17 report, CoinShares saw BTC experience outflows of $115 million total. It covers flows by provider and by asset, helping investors understand the drivers of recent price moves and investor sentiment in the digital asset world. On the other hand, bitcoin suffered large outflows for a second straight week.
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