Liquidations of the cryptocurrency market reached more than $ 3.7 billion in a month

Institutional investors have sharply reduced their investments in cryptocurrency products: according to CoinShares, they sold $ 173 million worth of assets in just one week. In total, the outflow of funds amounted to $ 3.74 billion over the past month, which coincided with a drop in the price of Bitcoin from $ 95,400 to $ 62,800.

The largest losses were on Bitcoin BTC $76,136.41 Mezo Wrapped BTC -0.28% Market capitalization $0.1 billion VOL. 24 hours $0.72 billion - $ 133 million of outflows, as well as on Ethereum ETH $2,330.35 Bridged Ether (StarkGate) -1.25% Market capitalization $43.3 million VOL. 24 hours $0.44 billion - $ 85.1 million. At the same time, some altcoins showed the opposite trend: XRP XRP $1.43 XRP -0.30% Market capitalization $88.15 billion VOL. 24 hours $0.11 billion received $ 33.4 million in inflows, Solana SOL $86.19 Binance-Peg SOL -0.25% Market capitalization $94.91 million VOL. 24 hours $0.18 billion - $ 31 million, Chainlink LINK $9.29 Chainlink -0.85% Market capitalization $6.76 billion VOL. 24 hours $22.58 million - $ 1.1 million.

Regionally, the United States became the leader of outflows with $ 403 million, but this was partially compensated by other countries: Germany added $ 115 million, Canada — $ 46.3 million, Switzerland — $ 36.8 million.

Trading volumes of exchange-traded products fell sharply, from $ 63 billion to $ 27 billion over the week.

Despite the negative dynamics, CoinShares notes one positive signal: products that allow you to open short positions on Bitcoin also experienced an outflow of $ 15.4 million over the past two weeks. Such a trend is often observed near market «surrender days» and may indicate that a local bottom is approaching.