Bitcoin Correction Continues as Crypto Fund Investments Decline
Updated
Bitcoin is currently experiencing a corrective movement, with its value retracing after reaching the 27600 level. The price has undergone a correction near the 61.8% Fibonacci level, indicating a potential bearish impulse towards the 26100 mark.
In line with recent data from CoinShares, investments in crypto funds have witnessed a decline of $54 million in the past week, marking the fourth consecutive week of outflows. Bitcoin investments specifically dropped by $38 million, while Ethereum saw a slight increase of $0.1 million. Additionally, investments in bitcoin short funds declined by $10 million.
In line with recent data from CoinShares, investments in crypto funds have witnessed a decline of $54 million in the past week, marking the fourth consecutive week of outflows. Bitcoin investments specifically dropped by $38 million, while Ethereum saw a slight increase of $0.1 million. Additionally, investments in bitcoin short funds declined by $10 million.
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