Between August 20-26, the turnover of crypto investment products ($901 million) fell to the lowest level since October 2020, and the fund outflow continued for the third week in a row ($27 million). Such predictions were given by CoinShares analysts.

“Despite […] We also see continued disinterest after the recent price drop, partly due to seasonal effects. It seems to us that it is associated with attention falcon discourse fed“, experts explained.

An outflow of $29 million was observed in traditional bitcoin funds, while structures that let you short the first cryptocurrency recorded an inflow of $1 million.

For the first time in the last ten weeks, an outflow of Ethereum-based products has been recorded ($0.9 million). There were no significant changes for funds based on other altcoins.

Recall that Peter Schiff, head of Euro Pacific Capital, predicted that Bitcoin would drop to $10,000.

Earlier, Mike Novogratz, head of Galaxy Digital, stated that he expects the price of the first cryptocurrency to stay in the $20,000-30,000 range.

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Sandra

I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.