Solana experienced outflows this week as Bitcoin’s outflows streak continued. Cryptocurrency asset outflows for the week totaled $59.3 million, bringing the current run to $249 million over four consecutive weeks. Bitcoin had the majority of activity, with $68.9 million in outflows offset by Short Bitcoin inflows of $15.2 million and $0.7 million from XRP. Regulatory and financial market insecurity are believed to be the reasons for the streak. Solana, previously a popular altcoin, saw $1.1 million in outflows after nine weeks of inflows. Ether also experienced outflows, trailing behind Bitcoin. Geographically, only Brazil registered inflows, while Germany, Canada, and the United States led in outflows. Expert analysts are predicting a continuation of Bitcoin’s slump, with some expecting it to reach as low as $20,000.
Summary:
– Solana saw outflows after nine weeks of inflows
– Bitcoin had the majority of activity, with outflows offset by Short Bitcoin inflows
– Regulatory and financial market insecurity are believed to be the reasons for the streak
– Ether also experienced outflows, trailing behind Bitcoin
– Geographically, only Brazil registered inflows, while Germany, Canada, and the United States led in outflows
– Expert analysts predict a continuation of Bitcoin’s slump, with some expecting it to reach as low as $20,000