Crypto’s red streak continues: Weak U.S. sentiment behind week 4 of outflows
Crypto markets are experiencing a fourth consecutive week of outflows, with $3.74 billion withdrawn over the past month, driven by weakening U.S. investor sentiment. A recent CoinShares report highlights a sharp decline in trading activity, falling from $63 billion to $27 billion week-over-week. While the U.S. led outflows with $403 million withdrawn, Germany, Canada, and Switzerland saw inflows totaling $230 million. Bitcoin faced the strongest selling pressure with $133 million in outflows, followed by Ethereum with $85.1 million. However, some altcoins like XRP and Solana attracted new investments. Despite social media speculation about an "altcoin season," the Altcoin Season Index remains at 31, indicating the market is still in a Bitcoin-dominant phase. The overall trend suggests cautious sentiment, with the next major move likely dependent on broader economic developments.
ambcrypto02/17 02:02
