The mood of institutional investors has been deteriorating for some time.
This is consistent with the market trend, with bitcoin plunging below $22,000 and the overall crypto market capitalization sliding down below $1 trillion. Consequently, institutional investors continue to have a more pessimistic outlook on the market. The figures for the last week are in, and the withdrawals from numerous digital assets indicate that major investors are not banking on bitcoin.
Institutional investors have been preparing their withdrawal from bitcoin for the last few weeks. During the previous two weeks, these investors had withdrawn their funds from the digital asset. Now, these volumes were not the biggest ever recorded, but they do not bode well for the future of institutional investment.
For the third week in a row, the bitcoin market has seen outflows. The digital asset saw another week of outflows totalling $15 million as the majority of investors’ pessimistic mood decreased. It is $6 million less than the previous week’s outflows.
During this time, the bullish tendency has also expanded to short Bitcoin. In contrast to the previous week, which had total inflows of $2.6 million, this week only saw inflows of $0.2 million. Not only does this indicate that institutional investors are exiting long positions, but they are also continuing to cut their short exposure. This may suggest that they anticipate market prices to stay restrained for some time.
In addition to digital investment goods, another market segment that saw outflows was digital investment services. The previous week’s outflows totalled $17 million. Last week, their total amounted to $9 billion.
Also Read: Ethereum Will Trade Over $2,000 By September 2022, Says Crypto Experts
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