Weekly Trading Volume for Digital Asset Investment Products at 2-Year Low
The inflow of funds into cryptocurrency investment products from December 3 to December 9 amounted to $8.8 million with a minimum over two years of trading volume of $677 million.
A week earlier, a $7.5 million outflow from cryptocurrency products was recorded.
Traditional bitcoin funds saw inflows of $17 million versus $10.8 million in the previous reporting period.
From structures that allow to open shorts on the first cryptocurrency, $3.9 million were withdrawn (from November 26 to December 2 - $11.1 million).
$2.4 million was withdrawn from Ethereum funds versus $4 million a week earlier. Altcoins (excluding Ethereum) recorded mixed dynamics.
Recall, Euro Pacific Capital president Peter Schiff predicted bitcoin to fall below $5000.
A similar scenario as a possible deviation from the current market consensus was presented by Standard Chartered analysts.