Cryptocurrency asset outflows for the week of Sept. 3 through 9 totaled $59.3 million, bringing the current run to $249 million over four consecutive weeks.\u00a0<\/p>\n
Bitcoin (BTC<\/a>) experienced the bulk of activity last week, with its $68.9 million in outflows offset by Short Bitcoin inflows in the amount of $15.2 million and $0.7 million from XRP (XRP<\/a>). <\/p>\n According to CoinShares, regulatory and financial market insecurity are to blame<\/a> for the streak:<\/p>\n \u201cWe believe continued worries over regulation of the asset class and recent dollar strength are the most likely reasons for this. Trading volumes also dropped significantly, by 73% in comparison to the prior week to just US$754 million for the week.\u201d<\/p><\/blockquote>\n Last week also brought an end to Solana\u2019s (SOL<\/a>) recent run. After nine weeks of inflows totaling $14.1 million prompted CoinShares to suggest that it was \u201cthe most loved altcoin amongst investors<\/a>,\u201d Solana saw $1.1 million in outflows. <\/p>\n Ether (ETH<\/a>) also experienced outflows for the week, with its $4.8 million trailing a distant second behind Bitcoin. With its year-to-date outflows now totaling $108 million, CoinShares has labeled it the \u201cleast loved digital asset amongst ETP [exchange-traded product] investors this year.\u201d<\/p>\n Geographically, only Brazil registered inflows with a modest $0.1 million. Germany, Canada, and the United States led activity with $20 million, $17.6 million and $12.3 million in outflows, respectively. <\/p>\n Switzerland and Sweden also experienced significant outflows, with the former losing $7.4 million and the latter another $2.3 million.<\/p>\n Expert analysts are predicting a continuation of Bitcoin\u2019s slump, with some expecting the coin to reach as low as $20,000<\/a>. This negative sentiment could contribute to further outflows, as the current four-week run seems to indicate that altcoins are unlikely to upset the balance of flows one way or the other. <\/p>\n Related: <\/em><\/strong>Double top \u2018likely\u2019 confirmed \u2014 5 things to know in Bitcoin this week<\/em><\/strong><\/a><\/p>\n<\/div>\n![\"\"](\"https:\/\/s3.cointelegraph.com\/uploads\/2023-09\/a0d927d6-0814-4d48-8eb1-f9022ddb8bde.jpg\" "\\"\\"")