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COINTURK NEWS > Cryptocurrency News > Why Are Crypto Prices Falling? Latest Report Details
Cryptocurrency News

Why Are Crypto Prices Falling? Latest Report Details

In Brief

  • The negative trend in the price of Bitcoin continues. After remaining stable over the weekend, the price dropped again today. The price, which dropped to the $26,000 region, is a result of ongoing demand shortage. Moreover, this week’s upcoming data has weakened investors’ risk appetite. So what are the details of the latest report?ContentsWhy Are […]
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COINTURK NEWS 2 years ago
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The negative trend in the price of Bitcoin continues. After remaining stable over the weekend, the price dropped again today. The price, which dropped to the $26,000 region, is a result of ongoing demand shortage. Moreover, this week’s upcoming data has weakened investors’ risk appetite. So what are the details of the latest report?

Contents
Why Are Cryptocurrencies Falling?Institutional Investors and Crypto

Why Are Cryptocurrencies Falling?

Due to the negative opening of Asian markets in the early hours, the price of Bitcoin experienced a rapid decline. At the time of writing, the US markets had also opened negatively. The possibility of the Fed tightening its policy further is worrying investors. Currently, investors continue to reduce their risks.

The Fed plans to make fewer interest rate cuts next year than previously expected. However, it is not surprising that investors are increasing their caution as the increase in fuel prices will fuel inflation.

Institutional Investors and Crypto

So what are institutional investors doing? They started selling early. Net outflows from cryptocurrency funds have been noteworthy for the past 6 weeks. According to the latest CoinShares report, there was a total outflow of $9 million last week. There are some regional differences that are worth noting. For example, while there was an inflow of over $16 million in the European region, outflows predominated from the US.

CoinShares stated the following;

“There was a total outflow of $9 million from cryptocurrency investment products last week. Outflows have continued for the sixth consecutive week. While the weekly volume remained low at $820 million, it fell well below the year-to-date average of $1.3 billion.”

Here are some important details;

  • There was an outflow of $2.8 million from short BTC funds. This is a positive development.
  • Ethereum saw a total outflow of $2.2 million for the sixth consecutive week.
  • Investors made investments of $0.66 million and $0.31 million in XRP and Solana, respectively.

The negative approach of institutions is positive in terms of general market sentiment. For now, it seems unlikely that we will see a significant recovery in the short term as individual investors are still cautious. However, we should not forget that cryptocurrencies sometimes run in the opposite direction of expectations.

Disclaimer: The information in this article does not constitute investment advice. Investors should be aware that cryptocurrencies are highly volatile and therefore carry risks, and should conduct their own research before making transactions.
You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 25 September, 2023 - 5:56 pm 25 September, 2023 - 5:56 pm
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