Digital asset investors are taking profits, according to CoinShares weekly report as over $134 million in crypto exited positions – the second largest weekly outflow this year.
The most popular crypto, Bitcoin was the biggest exit Hoovering up most of the outflow at $132 million. Today, Bitcoin is nearing $40,000 after topping $46,000 just last week. Perhaps this is the outcome of last week’s Bitcoin conference in Miami. Who knows.
Altcoins, not including Ethereum, saw a net increase in investment of $6 million.
Ethereum saw an exit of over $15 million with year-to-date outflows of $126 million.
Overall, trading volumes were low at $2.5 billion with Europe representing 39% of the outlaws and the Americas at 51% of exiting crypto.
Coinshares did report that blockchain equities were resilient with inflows totaling of $32m last week.
If anything, crypto markets are consistently volatile – something traders embrace. Enforcement drums continue to pound at the SEC but Treasury appears to be taking a more balanced approach to any looming regulation that will impact digital assets.