US Crypto Funds Lose $403M as Bitcoin Slides to $69K
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- U.S. investors withdrew $403 million from crypto funds in the latest week, per CoinShares.
- Europe and Canada recorded $230 million in inflows, highlighting a regional contrast.
- Bitcoin products lost $133.3 million in outflows, while short Bitcoin products shed $15.4 million over two weeks.
- Ethereum funds experienced $85.1 million in outflows.
- XRP funds attracted $33.4 million in inflows, while Solana funds drew $31 million, showing relative resilience.
- CoinGecko data shows Bitcoin trading at $69,000, down 2% in the past 24 hours.
- Nick Ruck of LVRG Research linked the altcoin rally to renewed retail risk appetite after softer US inflation data.
Why it matters: U.S. investors shed $403 million of crypto capital, while Europe and Canada added $230 million, shifting $673 million of net flow abroad. The outflows coincided with Bitcoin slipping 2% to $69,000, while XRP and Solana attracted $33 million and $31 million respectively, indicating a reallocation toward altcoins as US sentiment turns cautious.
