According to the latest reports, it seems that institutional investors are moving money out of the crypto market. Check out the latest reports about all this below.
Institutional investors move money out of the crypto market
It’s been just revealed the fact that the digital assets manager CoinShares says institutional crypto investment products suffered their fourth consecutive week of outflows last week.
In its latest Digital Asset Fund Flows Weekly Report, CoinShares made sure to explain the fact that institutional crypto investment products suffered outflows of nearly $20 million last week, along with minor inflows into short investment products.
“Digital asset investment products saw minor outflows totaling US$17m last week, marking the 4th consecutive week of negative sentiment.”
Coinshares said that it believes the fact that regulatory uncertainty may be the cause of investors rushing to short-BTC products.
“Despite the recent inflows into short-bitcoin, total assets under management (AuM) have risen by only 4.2% YTD [year-to-date] compared to long-bitcoin AuM having risen by 36%, suggesting short positions have not delivered the returns some investors expected this year so far. Nonetheless, it likely represents continued investor concerns over regulatory uncertainty for the asset class.”
Bitcoin will break out to $300k
It’s been just revealed that the trader Tone Vays believes that Bitcoin (BTC) could be gearing up for a massive eruption to the six-figure level and go as high as $300,000.
In a new strategy session, Vays said recently that Bitcoin could explode between 792% and 1,238% from current prices in the next bull market.
“So this is my projection. There’s two paths. We can hit this line [diagonal resistance] twice like we did in the last cycle . [Or], we can hit this line once near the end like we did in the prior cycle . If we hit it near the end, we’re going to go higher [$300,000]. If we hit it twice, we’re going to go lower [$200,000].”