Outflows Rock Bitcoin As Institutional Investor Sentiment Starts To Turn

Institutional investor interest in bitcoin has mainly been fluctuating in the last month. As the market has gone through the different phases of bull and bear market, so have the sentiment of investors gone through positive and negative. For the past week, though, it seems the latter had eventually won through as outflows had rocked bitcoin, even at a time when the digital asset had done a relatively good job of holding above $20,000. Bitcoin Sees $21 Million In Outflows The most recent report from CoinShares regarding the investments of institutional investors shows a unique perspective of how big money is looking at the crypto market. After seeing a fairly good month of inflows back in July, the trend has now posed a reversal as bitcoin sees some of the most substantial weekly outflows it has seen in recent months. Related Reading: Bitcoin Price Gears Up For Another Rally After Testing $25,000 Outflows for bitcoin for last week came out to $21 million, the largest on a month-to-date basis. It is, however, not the first, as this is the second week of consecutive outflows for the digital asset, totaling $29 million in outflows on a month-to-date basis. Bitcoin was not the only asset to experience outflows for the week. Digital investment products also saw outflows of $17 million for the same time period. This is evident that institutional sentiment is skewing toward the negative when it comes to the crypto market. BTC falls be...