Crypto funds showed a record weekly outflow of institutional investments

CoinShares analysts recorded an annual maximum of a weekly outflow of investments from closed-end crypto-share funds. The intrigue of the statistics is given by the fact that the flight of investors occurred after the maximum inflow of funds in mid-May.

Investors invested in Bitcoin as much as possible after updating annual lows with quotes, probably counting on a strong rebound.

In fact, after May 15, the cryptocurrency market went into a sideways trend. Bitcoin at $ 30,000, did not attract enough buyers, which increases the likelihood of a further decline in quotations.

Judging by the reports, institutional investors plan to wait out the fall in multi-asset assets. Basket-oriented altcoin funds consistently attract investment in almost every weekly report this year.

Last week, investors also marked Polkadot and Cardano. The largest altcoins by capitalization fell under active sales, which reduced quotes to key support levels that can provide a strong rebound on any positive news.