Bitcoin BTC Price Holds Its Latest Foothold at $29.1K While Worldcoin Soars
What happened to all the good crypto vibes? At least one of them has disappeared. According to a CoinShares report Monday, Bitcoin (BTC) investment products suffered a $13 million outflow last week, reversing the trend of consecutive weeks of massive inflows as investors instead favored funds focusing on smaller cryptocurrencies such as ether (ETH) and Ripple’s XRP, crypto asset manager. Digital asset funds overall witnessed weekly outflows of $6.5 million after gaining $742 million of inflows through the previous four weeks. The trend turnabout came as BTC investors have seemingly run out of positive news to bid on after some major catalysts in recent weeks. Spot bitcoin ETF applications by BlackRock and other financial service giants are now June ghosts with a Securities and Exchange Commission approval unlikely any time soon and BTC's price languishing.
Source: CoinDesk
