Leading digital asset manager CoinShares says that many institutional investors appear to be showing more caution towards Bitcoin and positioning themselves as short-sellers on BTC.
“Digital asset investment products saw inflows totaling $64 million last week, although the headline figures obscure the fact that a significant majority were into short-Bitcoin investment products ($51 million).”
Small inflows in long Bitcoin investment products perhaps support the bearish argument.
“Small inflows were seen into long investment products in regions other than the US such as Brazil, Canada, Germany and Switzerland totaling US $20 million.
This highlights investors are adding to long positions at current prices, with the inflows into short-Bitcoin possibly due to 1st-time accessibility in the US rather than renewed negative sentiment.
Have a prosperous week, Keep the Faith!