Bitcoin Crash Not Done: CoinShares Analyst Predicts ‘True Correction’ Amid Outflows

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Bitcoin Crash Not Done: CoinShares Analyst Predicts ‘True Correction’ Amid Outflows - NewsBTC

Quick Summary:

True Correction Is Underway For Bitcoin According to the CoinShares report, most of the outflows were concentrated toward Bitcoin, with the crypto’s investment products registering $630 million last week.

Such an inference is made in light of a corresponding $1.2 million outflow in short Bitcoin products, which suggests that the majority of investors do not believe that Bitcoin will continue to decline over the long run. In terms of geographical location, the US saw the largest outflows, totaling $475 million.

According to data, Spot Bitcoin ETFs witnessed outflows every day last week, causing the lowest trading volume of $6.9 billion in investment products since their launch in January 2024.