Bitcoin Leads As Markets Sees Record Outflows. Bear Market Incoming?

Bitcoin and altcoins have not had the best week according to reports coming out of the market. The crypto market as a whole has been enjoying months of continuous inflows following hot on the heels of the recent market rally. It has pushed crypto-assets such as bitcoin towards new highs as inflows had hit a new record alongside assets under management. But it seems that this is changing. Coming off the back of what was 17 consecutive weeks of inflows, the market is now seeing movement in the opposite direction. While assets such as ethereum had previously recorded outflows at various times, they had been isolated to a select few. Now the whole market is seeing its first week of outflows after four months of inflows, setting a record at the same time. Related Reading | Millennial Millionaires Are The Most Bullish On Crypto, Survey Finds Largest Record Outflows The total amount of outflows for last week came out to a total of $142 million. This marked the first week of outflows after a 17-week inflows streak that brought assets under management towards record highs. Not only was this the first week of outflows following over four months of inflows, but it is also the largest weekly outflow from the crypto market on record. This follows an impressive rally from the crypto market where major cryptocurrencies touched towards a new high. There have been sell-offs all across the market as investors have taken profit and institut...