Institutional investors’ reactions to the bitcoin price decline have been quite similar to those of retail investors. After weeks of outflows, the tides have begun to turn, largely attributed to low prices offering an opportunity to get into the digital asset before a rally. Last week there were entries for the digital asset, although other assets tell a different story.

Bitcoin Sentiment Picks Up

Bitcoin sentiment had dipped deep into the negative following last week’s price drop. With the digital asset reaching as low as $17,600, it sparked selloffs across the space. However, not everyone in the space had seen the price drop as a signal to sell. For some, it represented a unique opportunity to get “cheap” bitcoin, which is what institutional investors see.

Bitcoin outflows increased during the previous week due to low momentum in the market. This had improved last week when the outtrend was canceled and money started flowing into the cryptocurrency.

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The leading cryptocurrency benefited the most from this turn in investor sentiment as its inflows totaled $28 million for the week. Now, this is not exactly an impressive figure when it comes to bitcoin inflows. However, it is important not only for market sentiment, but also for the fact that capital outflows had characterized the market during the previous week. It brings month-to-date bitcoin inflows to a total of $46 million.

However, short bitcoin was gone the other day. This asset registered record outflows during the last week. Totaling $5.8 million, bitcoin’s short position embodied the negative sentiment felt across the market recently, after hitting a new all-time high of $64 million just at the start of the week.

BTC starts another downward trend | Source: BTCUSD on

Outflows rock the rest

It would appear that Bitcoin would be one of the only beneficiaries of last week’s trend entry. For the rest of the market, the sell-off trend had taken hold and investment in digital assets had recorded inflows of $39 million. This brings total assets under management to $36 billion. It is now at its lowest point in more than a year, representing a 59% decline in the last six months alone. However, net flows remain positive at $403 million year-to-date.

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Ethereum has yet to break free of its bearish grip as outflows remain to date. In the last week alone, Ethereum outflows reached $70 million. The second largest cryptocurrency by market capitalization has now seen 11 straight weeks of outflows with no respite in sight. Its year-to-date outflows now amount to a whopping $459 million.

However, Solana and multi-asset investment products would go the way of bitcoin last week. Both asset classes tenaciously maintain entry trends. Inflows for multi-asset investment products totaled $9 million, while Solana saw inflows of $0.7 million, presumably from investors moving away from its competitor, Ethereum, due to fears that the Merger might not go ahead. out as scheduled.

The crypto market has lost more than $100 billion since last week. It currently sits at $892.6 billion at the time of this writing.

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