The ongoing cryptocurrency market has continued to witness major liquidations. Following a $24 billion decline on 26 June, the total crypto market cap slipped by $9.17 billion on 27 June. At press time, the total liquidations over the last day stood<\/a> at $137 million. It was down from $145 million as compared to 27 June.<\/p>\n This certainly seems to be the case with cryptocurrency holders as highlighted in the latest Digital Asset Fund Flows Weekly report<\/a>. CoinShares noted that digital asset investment products suffered over $420 million in outflows last week. In fact, this has been the largest since records began by a wide margin as depicted here.<\/p>\n Source: CoinShares<\/p>\n<\/div>\n In terms of assets under management (AUM), last week\u2019s outflows were the third-largest on record, representing 1.2% of the entire AUM of all funds that CoinShares tracks. The worst was outflows of 1.6% recorded during the 2018 bear market.<\/p>\n Geographically speaking, Canadian investors offloaded<\/a> around $487.5 million worth of digital asset products last week. Importantly, United States-based investors accounted for more than half of the inflows with $41 million.<\/p>\n Nevertheless, the void remains too big to close and even the king coin suffered the repercussions.<\/p>\n \u201cThe outflows occurred on 17th June but were reflected in last week\u2019s figures due to trade reporting lags, and likely responsible for Bitcoin\u2019s decline to $17,760 that weekend.\u201d<\/p>\n<\/blockquote>\n Bitcoin [BTC]<\/a> led the exodus charge as outflows solely focused on Bitcoin. The king coin saw net outflows for the week totalling $453 million, erasing almost all inflows year-to-date and leaving total Bitcoin AuM at $24.5 billion, the lowest point since the beginning of 2021.<\/p>\n Source: CoinShares<\/p>\n<\/div>\n Apart from Bitcoin, other assets including Ethereum [ETH]<\/a> ($10.9 million), Short Bitcoin<\/a> ($15.3 million), Cardano [ADA]<\/a> ($0.8 million), Tron [TRX]<\/a> ($0.1 million), Polkadot [DOT]<\/a> ($0.2 million), and other assets ($2.9 million) reported total inflows of $30 million last week. Overall, the result in net outflows reached a total of $423 million.<\/p>\n In addition, providers\u2019 flow painted a similar picture as well. Stripping out the $493 million outflows reveals that other providers saw aggregate inflows totalling $70 million.<\/p>\n The withdrawals came from the Purpose Bitcoin ETF<\/a> that stood at an amount equal to about 24,510 BTC. Furthermore, it is also likely that these enormous outflows are caused by a forced seller, thus leading to a huge liquidation.<\/p>\n<\/p><\/div>\nCatching the first train out\u00a0<\/strong><\/h3>\n
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Exodus #101<\/strong><\/h3>\n
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