As the US-Iran conflict enters its fifth week, statements from both sides continue to impact oil and Bitcoin (BTC) prices.
While Bitcoin continues to fluctuate and remain below $70,000 due to the ongoing cryptocurrency war, Coinshares has released its cryptocurrency report, stating that there was a $414 million outflow last week.
“Cryptocurrency investment products experienced capital outflows for the first time in five weeks, driven by fears of conflict with Iran and expectations of an FOMC interest rate hike.”
Bitcoin (BTC) Turns Negative!
Looking at crypto funds individually, outflows were concentrated in Ethereum. ETH experienced outflows worth $221.8 million, while Bitcoin (BTC) saw outflows of $194.1 million.
Looking at other altcoins, XRP experienced outflows of $15.8 million, while Solana (SOL) saw outflows of $12.3 million and Sui (SUI) saw outflows of $0.4 million.
“Ethereum was the asset most affected by the negative sentiment, most likely related to the Clarity Act news. It recorded outflows of $222 million and its net outflows since the beginning of the year reached $273 million, making it the worst-performing digital asset.”
Bitcoin also saw outflows totaling $194 million, but it remains at a net inflow position of $964 million since the beginning of the year.
Solana was also negatively impacted by outflows of $12.3 million. XRP, on the other hand, was one of the rare assets to see inflows, with a total of $15.8 million.
Looking at regional fund inflows and outflows, the US led capital outflows, while Germany and Canada bought during the decline.
The US ranked first with inflows of $445.2 million, followed by Germany with $21.2 million and Canada with $15.9 million.
*This is not investment advice.
