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 $78,086.08 Mezo Wrapped BTC -1.11% Market capitalization $76.92 million VOL. 24 hours $1.06 billion - $ 133 million of outflows, as well as on Ethereum ETH $2,181.39 Bridged Ether (StarkGate) -1.93% Market capitalization $38.79 million VOL. 24 hours $0.47 billion - $ 85.1 million. At the same time, some altcoins showed the opposite trend: XRP XRP $1.42 XRP -1.49% Market capitalization $87.53 billion VOL. 24 hours $0.11 billion received $ 33.4 million in inflows, Solana SOL $86.80 Binance-Peg SOL -3.03% Market capitalization $95.53 million VOL. 24 hours $0.18 billion - $ 31 million, Chainlink LINK $9.75 Chainlink -3.08% Market capitalization $7.09 billion VOL. 24 hours $24.94 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.