Last week (June 10-16) saw the biggest outflow of digital asset investments since late March.
Bitcoin led the downward trajectory with a $621 million outflow, contributing to the total outflow of over $600 million.
According to CoinShares, this most recent dip follows a familiar pattern, last seen on March 22 of this year, when a period of significant inflow was abruptly ended by the Federal Open Market Committee (FOMC) meeting displaying a more hawkish than expected attitude.
Trading volumes dipped significantly, declining to $11 billion for the week of June 10-16. This is considerably below the $22 billion weekly average observed throughout the year.
Not all cryptocurrencies, however, have seen outflows; CryptoBriefing notes that Ethereum, Lido, and XRP all attracted inflows, with Ethereum gaining most significantly, receiving $13 million.
Nevertheless, Ethereum’s price has fallen over the last week, dropping to roughly $3,500, a decline of 4.28%. Despite this, it has soared 15.18% in the last 30 days.
The outlook is less favorable for coins like Solana, which tumbled nearly 10% in the last seven days and slid almost 15% in the last 30 days.
Bitcoin, as expected, does not look too hot either. Its price has dipped below $66,000, signifying a decline of more than 5.40% in the last seven days and putting its 30-day price in the red.
