Institutional Investors Remain Bullish As Short Bitcoin Sees Outflows

Institutional investors have swung between bearish and bullish when it comes to bitcoin for the better part of this year. Each time though, the direction of their money always shows how they are currently looking at the crypto market. The same is the case for the past week, where numbers have pointed towards more bullishness for these large investors. Short Bitcoin Outflows Continue Since the market began its recovery trend, short bitcoin has been seeing outflows. The ETF had been quite popular and successful when it was launched earlier this year, giving the perfect timing to being launched when the crypto winter was just beginning. However, outflow figures are showing that institutional investors are gradually abandoning their bearish stance on the digital asset. Related Reading: Price Surge Puts Majority Of Ethereum Investors In Profit The prior week had come with outflows for short bitcoin to the tune of $15 million, which represented 10% of total assets under management (AuM) at the time. Last week marked a second consecutive week of outflows for the fund with another $2.4 million, bringing its total outflows since September to $20 million. This figure now represents 15% of AuM for the fund from mid-September until the present. BTC price fails to hold $20,500 | Source: BTCUSD on TradingView.com As expected, the opposite was the case with long bitcoin that saw inflows of $14 million for last week. The prior week had a...