Retracement Capital From Crypto Market Now Peaks At $423 Million

The market reflected investor panic as institutional inflows retreated from crypto investment products to a record $423 million. Most of them are Canadian investment units.

Market with “depressed” psychology of investors

According to CoinShares weekly report, there was over $487.5 in Canadian institutional capital outflow from crypto investment products from June 20 to June 24.

However, there was $ 70 million in capital inflows to offset from other countries, of which the United States accounted for more than half when contributing $ 41 million. Germany and Switzerland join $11 million and $10.4 million each, respectively. Brazil and Australia also modestly contributed $1.6 million and $1.4 million.

As such, there has been a total of $422.8 million in institutional capital outflows from the crypto market, marking a record retracement since CoinShares began making its weekly reports public. Notably, this is more than double the previous record of $198 million announced earlier this year.

On the other hand, there was $453 million exiting Bitcoin (BTC) products, while Solana (SOL) only dropped about $100,000. Ethereum (ETH) investment products also generated $10.9 million in inflows. However, Ether products since the beginning of the year have lost an inflow of $448.3 million, making it the least favored investment channel for institutional investors this year.

These not-so-positive numbers are considered easy to “understand” amid the current market situation, the crowd’s sentiment is starting to get discouraged and investors’ confidence in the market is also somewhat diminished.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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