**Key Insights:**
– Crypto exchange-traded products (ETPs) have experienced significant withdrawals due to market uncertainty affecting investor strategies.
– Bitcoin faced the largest outflows, yet some digital assets are seeing renewed interest.
– Early technical signals and institutional actions highlight cautious market dynamics.
Cryptocurrency ETPs faced $1.7 billion in outflows last week as global investors continued withdrawing capital amid wider market downturns, according to a CoinShares report dated March 17. Over the past five weeks, outflows reached a cumulative $6.4 billion.
Even though last week’s outflows reduced to $876 million, the overall trend remains negative. James Butterfill, CoinShares’ Head of Research, noted these sell-offs have lasted 17 consecutive days, marking the longest streak since data tracking began in 2015. Despite the negative sentiment, year-to-date inflows are still positive at $912 million. However, total assets under management have dropped by $48 billion.
Bitcoin ETPs have been particularly hit, with $5.4 billion in outflows in the past five weeks, nearly wiping out the year’s inflows, now at $612 million. The sell-off was predominantly US-based, amounting to $1.16 billion, or 93% of the weekly liquidations. Meanwhile, Switzerland saw $528 million in withdrawals, while Germany received a minor inflow of $8 million. Additionally, Ethereum and Solana products posted outflows of $176 million and $2.2 million, respectively. In contrast, XRP and Cardano saw positive flows, with XRP attracting $1.8 million and Cardano $400,000.
While current market sentiment pressures crypto ETPs, technical signals suggest Bitcoin might be nearing recovery. A recent bullish cross in Bitcoin’s stochastic RSI, a historical precursor to price rebounds, implies potential upward movement. Some institutional investors are optimistic, increasing their Bitcoin exposure to its highest in four months, anticipating a market recovery.
**Twitter Update:**
Crypto ETFs and ETPs continue to experience negative flows, with $1.7 billion in outflows recorded for the fifth consecutive week. Bitcoin led the outflows, losing $978 million, followed by $528 million in BNB product outflows. Despite the ongoing market downturn, technical indicators suggest Bitcoin could be on the verge of recovery. #Bitcoin
