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Institutionals withdrew $ 4 million from the cryptosphere in a week

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According to a report by CoinShares, institutional investors withdrew $ 4 million from crypto funds for the week ending July 9. Researchers note that prior to that, over the course of seven days, capital was mainly invested in products focused on digital currencies. In total, the funds raised $ 63 million. The outflow of institutional capital from the cryptosphere is accompanied by a fall in the value of bitcoin. On Thursday, July 15, the BTC rate is holding around $ 32,500. The capitalization of the largest cryptocurrency per day decreased by 3.92% to $ 611.618 billion. Recall that last week bitcoin traded in the range from $ 32,000 to $ 35,000. Analysts doubt that on volatility will escalate this week as network activity remains very weak. The largest outflow was observed in the European market. At the same time, North American institutions, on the contrary, were predominantly part of crypto funds. This trend reflects the uncertainty that dominates the camp of traders. Since January 2021, Bitcoin and Ether-focused products have raised $ 4.18 billion and $ 961 million from investors, respectively. Experts note that the transfer of capital from bitcoin products to other digital assets suggests that many large players have begun to diversify their portfolios more often in order to minimize risks in the event of a return of turbulence.

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