Cryptocurrencies suffered a total outflow of value equivalent to $207 million during the first week of the year, according to a report by digital assets hedge fund CoinShares, indicating a persistent bearish outlook that may lead to an ever-heavier loss over the year.
This is the fourth straight week of outflows, now totaling $465 million and represents around 0.8 percent of the combined assets under management, based on the report (pdf) by James Butterfill. This trend has reversed the gains that began in August last year which led to almost $3.6 billion worth of funds being invested in the crypto markets.
