According to CoinShares analysts, fund outflows from cryptocurrency investment products amounted to $38.6 million in the period from June 11 to June 17.

AUM From the peak of November 2021, the indicator has fallen by 59%.

Compared to the previous week’s value ($108 million), the rate of investment reduction decreased almost threefold.

Experts pointed to a record outflow of funds from bitcoin ($5.8 million)-based “bear” funds, which could be a sign of nearing the apex of downside dynamics.

Ethereum funds have been the driver of the negative dynamics. Within seven days, fund outflows from them totaled $69.9 million and $458.6 million since the beginning of the year.

Approximately the same amount ($480 million) attracted the first cryptocurrency-based products since the beginning of the year, including $28.2 million last week.

Investors’ interest in multi-asset products continues. Investments in them have increased $8.9 million during the week and $206.7 million since the start of the year.

There was a mixed situation for altcoins. While the increase in funds was seen in Litecoin, BNB and Solana-based funds, a decrease was observed in Cardano, Polkadot and Tron.

Recall that well-known gold supporter Peter Schiff doubted that Bitcoin would ever reach below $20,000.

Earlier, Jeffrey Gundlach, head of DoubleLine Capital, allowed the price of the first cryptocurrency to drop to the $10,000 level.

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