Bitcoin sees sixth straight week of outflows -CoinShares
By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) – Bitcoin funding merchandise and funds posted their sixth consecutive week of outflows, in line with data on Monday from digital asset supervisor CoinShares as a crackdown in China spooked consumers.
Last week, bitcoin outflows totaled $89 million. For the 12 months, bitcoin outflows hit $487 million, or 1.6% of belongings under administration, data confirmed.
The crypto sector as a whole observed a third consecutive week of outflows amounting to $79 million remaining week in what’s now the longest bear run in outflows since February 2018, CoinShares said. For the month of June, web outflows hit $210.5 million.
“Bitcoin’s six-week run of outflows has been pushed by the combination of environmental issues and an increasingly antagonistic regulatory environment in China,” said Matt Weller, …